Magellan Aerospace (TSE:MAL) Hits New 1-Year High – Here’s What Happened

Shares of Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high on Tuesday . The company traded as high as C$38.17 and last traded at C$37.80, with a volume of 103604 shares trading hands. The stock had previously closed at C$34.66.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. ATB Cormark Capital Markets increased their price objective on Magellan Aerospace from C$31.00 to C$46.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 2nd. TD increased their price target on shares of Magellan Aerospace from C$30.00 to C$37.00 and gave the stock a “buy” rating in a research report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of C$36.00.

Magellan Aerospace Stock Performance

The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 11.46. The firm has a 50-day simple moving average of C$33.43 and a two-hundred day simple moving average of C$27.09. The company has a market capitalization of C$2.23 billion, a price-to-earnings ratio of 49.41, a price-to-earnings-growth ratio of -21.36 and a beta of 1.06.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Monday, May 11th. The company reported C$0.29 earnings per share (EPS) for the quarter. The business had revenue of C$285.10 million during the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%. As a group, sell-side analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, June 16th. Magellan Aerospace’s payout ratio is currently 25.32%.

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.