TD Securities Issues Positive Forecast for Magellan Aerospace (TSE:MAL) Stock Price

Magellan Aerospace (TSE:MAL) had its price target hoisted by investment analysts at TD Securities from C$17.00 to C$18.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has a “buy” rating on the stock. TD Securities’ price target indicates a potential upside of 69.49% from the company’s current price.

Magellan Aerospace Stock Performance

TSE:MAL opened at C$10.62 on Thursday. 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 firm’s 50-day moving average is C$9.82 and its 200-day moving average is C$8.90. Magellan Aerospace has a 52-week low of C$7.28 and a 52-week high of C$11.05. The company has a market cap of C$606.83 million, a price-to-earnings ratio of 35.40, a PEG ratio of -21.36 and a beta of 1.11.

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

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.