Magellan Aerospace (TSE:MAL) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$9.52 and traded as high as C$10.07. Magellan Aerospace shares last traded at C$10.07, with a volume of 4,103 shares.

Wall Street Analyst Weigh In

Separately, TD Securities lifted their price objective on Magellan Aerospace from C$17.00 to C$18.00 and gave the stock a “buy” rating in a report on Thursday, November 7th.

Magellan Aerospace Trading Up 3.8 %

The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44. The company has a 50 day moving average of C$10.39 and a 200 day moving average of C$9.53. The stock has a market capitalization of C$597.11 million, a price-to-earnings ratio of 34.83, a P/E/G ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.10 annualized dividend and a yield of 0.96%. Magellan Aerospace’s dividend payout ratio is presently 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.