Magellan Aerospace (TSE:MAL) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Magellan Aerospace Co. (TSE:MAL) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of C$9.94 and traded as high as C$10.15. Magellan Aerospace shares last traded at C$10.08, with a volume of 2,881 shares changing hands.

Wall Street Analyst Weigh In

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

Magellan Aerospace Stock Performance

The company has a market capitalization of C$558.22 million, a price-to-earnings ratio of 28.87, a P/E/G ratio of -21.36 and a beta of 1.11. The stock has a 50 day simple moving average of C$9.90 and a 200 day simple moving average of C$9.94. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio (DPR) is 28.61%.

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.