Magellan Aerospace (TSE:MAL) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Magellan Aerospace Co. (TSE:MAL) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$8.79 and traded as high as C$10.61. Magellan Aerospace shares last traded at C$10.43, with a volume of 5,796 shares.

Wall Street Analysts Forecast Growth

Separately, TD Securities upped their price objective on Magellan Aerospace from C$16.00 to C$17.00 and gave the company a “buy” rating in a report on Thursday, August 8th.

Magellan Aerospace Stock Down 1.0 %

The stock has a market capitalization of C$590.26 million, a price-to-earnings ratio of 34.43, a P/E/G ratio of -21.36 and a beta of 1.11. The business has a 50-day moving average of C$9.71 and a 200-day moving average of C$8.81. The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44.

Magellan Aerospace (TSE:MAL) last announced its quarterly earnings results on Tuesday, August 6th. The company reported C$0.13 earnings per share for the quarter. Magellan Aerospace had a net margin of 1.88% and a return on equity of 2.30%. The business had revenue of C$242.91 million during the quarter. On average, sell-side analysts expect that Magellan Aerospace Co. will post 0.9692308 EPS for the current year.

Magellan Aerospace Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 30th were given a dividend of $0.025 per share. The ex-dividend date was Monday, September 16th. This represents a $0.10 annualized dividend and a dividend yield of 0.97%. Magellan Aerospace’s dividend payout ratio is currently 33.33%.

Magellan Aerospace Company Profile

Magellan Aerospace Corporation, through its subsidiaries, engineers and manufactures aeroengine and aerostructure components for aerospace markets in Canada, the United States, and Europe. The company offers aero engine products, such as laser welded honeycomb and filament wound tubes, frames, compressor components, bypass ducts, hot section components, and aeroengine and helicopter drive shafts, as well as other flight safety critical machined components, including discs, seals, and spacers; and aerostructures comprising landing gear systems, wing ribs, spars and skins, bulkheads and fuselage components, tailcone assemblies, composite wing and fairing structures, horizontal and vertical stabilizers, plug and nozzle, exhaust systems, crown modules, and vane boxes and transition ducts.