Magellan Aerospace (TSE:MAL) Reaches New 1-Year High – What’s Next?

Magellan Aerospace Co. (TSE:MAL)’s stock price reached a new 52-week high on Tuesday . The stock traded as high as C$12.75 and last traded at C$12.40, with a volume of 40947 shares trading hands. The stock had previously closed at C$12.24.

Wall Street Analysts Forecast Growth

Separately, TD Securities increased their target price on Magellan Aerospace from C$18.00 to C$19.00 and gave the stock a “buy” rating in a research note on Monday, March 17th.

Magellan Aerospace Trading Up 1.3 %

The firm has a market capitalization of C$686.02 million, a price-to-earnings ratio of 35.48, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81. The business’s fifty day moving average is C$10.09 and its 200 day moving average is C$10.12.

Magellan Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, March 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.81%. 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.