Magellan Aerospace (TSE:MAL) Posts Quarterly Earnings Results

Magellan Aerospace (TSE:MAL) issued its earnings results on Wednesday. The company reported C$0.35 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$305.58 million for the quarter. Magellan Aerospace had a return on equity of 5.48% and a net margin of 4.22%.

Magellan Aerospace Trading Up 0.0%

TSE:MAL opened at C$37.74 on Thursday. The company has a market cap of C$2.15 billion, a P/E ratio of 47.77, a P/E/G ratio of -21.36 and a beta of 1.06. The stock’s fifty day moving average price is C$34.03 and its two-hundred day moving average price is C$27.64. Magellan Aerospace has a 1 year low of C$15.05 and a 1 year high of C$40.51. The company has a debt-to-equity ratio of 11.46, a current ratio of 2.51 and a quick ratio of 1.55.

Magellan Aerospace Announces Dividend

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

Wall Street Analyst Weigh In

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

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.