Magellan Aerospace (TSE:MAL) Releases Earnings Results

Magellan Aerospace (TSE:MAL) released its earnings results on Monday. The company reported C$0.29 EPS for the quarter, FiscalAI reports. The business had revenue of C$285.10 million during the quarter. Magellan Aerospace had a net margin of 4.22% and a return on equity of 5.48%.

Magellan Aerospace Stock Down 1.8%

Shares of TSE MAL opened at C$24.87 on Wednesday. Magellan Aerospace has a 12-month low of C$14.85 and a 12-month high of C$27.84. The stock has a market cap of C$1.42 billion, a PE ratio of 36.04, a P/E/G ratio of -21.36 and a beta of 0.76. The company has a current ratio of 2.51, a quick ratio of 1.55 and a debt-to-equity ratio of 8.04. The company has a 50-day moving average of C$24.08 and a 200 day moving average of C$20.87.

Magellan Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, March 17th. Magellan Aerospace’s dividend payout ratio is currently 25.36%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. ATB Cormark Capital Markets raised shares of Magellan Aerospace to a “moderate buy” rating in a research note on Monday, April 6th. TD Securities boosted their target price on shares of Magellan Aerospace from C$24.00 to C$25.00 and gave the stock a “buy” rating in a research note on Tuesday, March 31st. Finally, TD boosted their target price on shares of Magellan Aerospace from C$27.00 to C$30.00 and gave the stock a “buy” rating in a research note on Tuesday. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Magellan Aerospace currently has an average rating of “Buy” and an average price target of C$27.50.

Magellan Aerospace Company Profile

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.