Magellan Aerospace (TSE:MAL) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Magellan Aerospace Co. (TSE:MAL) passed 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.

Analyst Upgrades and Downgrades

Separately, TD Securities raised their target price on Magellan Aerospace from C$17.00 to C$18.00 and gave the company a “buy” rating in a research note on Thursday, November 7th.

Magellan Aerospace Trading Up 5.9 %

The firm’s 50 day simple moving average is C$10.39 and its two-hundred day simple moving average is C$9.52. The company has a quick ratio of 1.55, a current ratio of 2.44 and a debt-to-equity ratio of 12.92. The stock has a market cap of C$575.40 million, a P/E ratio of 33.57, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Tuesday, December 17th. Magellan Aerospace’s dividend payout ratio (DPR) is presently 33.33%.

About Magellan Aerospace

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.