Magellan Aerospace (TSE:MAL) Sets New 12-Month High – Still a Buy?

Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high on Wednesday . The stock traded as high as C$26.00 and last traded at C$25.98, with a volume of 69054 shares. The stock had previously closed at C$24.08.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MAL. TD Securities raised their price target on Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a report on Tuesday, March 31st. ATB Cormark Capital Markets upgraded Magellan Aerospace to a “moderate buy” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of C$25.00.

Magellan Aerospace Stock Performance

The stock has a market capitalization of C$1.48 billion, a PE ratio of 37.65, a PEG ratio of -21.36 and a beta of 0.76. The company has a quick ratio of 1.55, a current ratio of 2.75 and a debt-to-equity ratio of 10.77. The firm has a 50 day moving average price of C$22.07 and a 200-day moving average price of C$19.45.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings data on Friday, March 27th. The company reported C$0.18 earnings per share (EPS) for the quarter. Magellan Aerospace had a return on equity of 4.83% and a net margin of 3.78%.The firm had revenue of C$278.33 million during the quarter. Research analysts expect that Magellan Aerospace Co. will post 0.9692308 EPS for the current fiscal year.

Magellan Aerospace Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, March 17th. Magellan Aerospace’s dividend payout ratio (DPR) is presently 25.36%.

Magellan Aerospace Company Profile

Magellan Aerospace Corp supplies components to the aerospace industry. It has two major product groups: aerostructures and aeroengines. Its engines and parts may be applied to new aircraft, or as replacement parts to existing platforms. The company also provides aftermarket support by conducting specific repairs and other maintenance services. It serves both commercial (approximately three-fourths of total sales) and defense markets. Additionally, parts and equipment may be provided for power generation projects, but sales do not constitute a material amount.