Magellan Aerospace (TSE:MAL) Shares Up 15% – Should You Buy?

Magellan Aerospace Co. (TSE:MAL) shares shot up 15% during mid-day trading on Wednesday. The company traded as high as C$39.41 and last traded at C$39.36. 183,770 shares traded hands during mid-day trading, an increase of 230% from the average daily volume of 55,683 shares. The stock had previously closed at C$34.22.

Wall Street Analysts Forecast Growth

Separately, TD raised their price objective on shares of Magellan Aerospace from C$37.00 to C$45.00 and gave the company a “buy” rating in a research note on Friday, August 14th. Three research analysts have rated the stock with a Buy rating. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of C$38.67.

Magellan Aerospace Trading Up 14.1%

The firm has a market cap of C$2.23 billion, a price-to-earnings ratio of 37.19, a PEG ratio of -21.36 and a beta of 0.96. The business has a fifty day moving average of C$33.07 and a two-hundred day moving average of C$29.54. The company has a debt-to-equity ratio of 11.18, a quick ratio of 1.55 and a current ratio of 2.52.

Magellan Aerospace (TSE:MAL) last issued its quarterly earnings data on Wednesday, August 12th. The company reported C$0.35 earnings per share (EPS) for the quarter. The firm had revenue of C$305.58 million during the quarter. Magellan Aerospace had a return on equity of 7.11% and a net margin of 5.30%. As a group, equities analysts expect that Magellan Aerospace Co. will post 0.97 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were given a $0.05 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.5%. Magellan Aerospace’s payout ratio is currently 19.05%.

About Magellan Aerospace

Magellan Aerospace is a global, integrated aerospace company that provides complex assemblies and systems solutions to aircraft and engine manufacturers, and defence and space agencies worldwide. Magellan designs, engineers, and manufactures aeroengine and aerostructure assemblies and components for aerospace markets, advanced products for military and space markets, industrial power generation, and specialty products. Magellan is a public company whose shares trade on the Toronto Stock Exchange (TSX: MAL), with operating units throughout North America, Europe and India.