Magellan Aerospace (TSE:MAL) Stock Crosses Above 200-Day Moving Average – What’s Next?

Magellan Aerospace Co. (TSE:MAL)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$9.47 and traded as high as C$9.76. Magellan Aerospace shares last traded at C$9.26, with a volume of 22,967 shares trading hands.

Wall Street Analyst Weigh In

Separately, TD Securities raised their price target on Magellan Aerospace from C$17.00 to C$18.00 and gave the company a “buy” rating in a report on Thursday, November 7th.

Magellan Aerospace Trading Up 3.1 %

The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44. The stock has a fifty day moving average of C$10.49 and a 200 day moving average of C$9.48. The company has a market capitalization of C$545.69 million, a P/E ratio of 31.83, a PEG ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 1.05%. The ex-dividend date is Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio is 33.33%.

Magellan Aerospace Company Profile

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.