Magellan Aerospace (TSE:MAL) Reaches New 12-Month High After Analyst Upgrade

Magellan Aerospace Co. (TSE:MAL) hit a new 52-week high during mid-day trading on Tuesday after ATB Cormark Capital Markets raised their price target on the stock from C$31.00 to C$46.00. ATB Cormark Capital Markets currently has an outperform rating on the stock. Magellan Aerospace traded as high as C$34.30 and last traded at C$31.81, with a volume of 58450 shares trading hands. The stock had previously closed at C$32.69.

Several other brokerages have also recently issued reports on MAL. TD lifted 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 report on Tuesday, May 12th. TD Securities lifted 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 report on Tuesday, March 31st. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Magellan Aerospace currently has a consensus rating of “Buy” and an average price target of C$33.67.

Magellan Aerospace Price Performance

The company has a quick ratio of 1.55, a current ratio of 2.51 and a debt-to-equity ratio of 11.46. The firm has a market capitalization of C$1.91 billion, a PE ratio of 42.28, a PEG ratio of -21.36 and a beta of 0.76. The firm’s fifty day simple moving average is C$25.46 and its 200-day simple moving average is C$21.99.

Magellan Aerospace (TSE:MAL) last issued its 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 net margin of 4.22% and a return on equity of 5.48%. On average, research analysts forecast that Magellan Aerospace Co. will post 0.9692308 earnings per share for the current fiscal year.

Magellan Aerospace Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend was Tuesday, March 17th. Magellan Aerospace’s payout ratio is presently 25.32%.

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.