Magellan Aerospace (TSE:MAL) Stock Price Expected to Rise, TD Securities Analyst Says

Magellan Aerospace (TSE:MAL) had its price objective upped by TD Securities from C$18.00 to C$19.00 in a report issued on Monday morning,BayStreet.CA reports. They currently have a buy rating on the stock.

Magellan Aerospace Price Performance

Shares of TSE MAL opened at C$11.15 on Monday. Magellan Aerospace has a twelve month low of C$7.77 and a twelve month high of C$11.15. The stock’s 50 day moving average price is C$9.97 and its 200-day moving average price is C$10.05. The company has a market capitalization of C$616.87 million, a PE ratio of 31.90, a PEG ratio of -21.36 and a beta of 1.11. The company has a quick ratio of 1.55, a current ratio of 2.58 and a debt-to-equity ratio of 11.81.

Magellan Aerospace Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. The ex-dividend date is Wednesday, March 19th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.90%. Magellan Aerospace’s payout ratio is presently 28.61%.

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.