Magellan Aerospace (TSE:MAL) Reaches New 12-Month High – Still a Buy?

Magellan Aerospace Co. (TSE:MAL)’s share price hit a new 52-week high on Tuesday . The stock traded as high as C$12.75 and last traded at C$12.40, with a volume of 40947 shares traded. The stock had previously closed at C$12.24.

Wall Street Analysts Forecast Growth

Separately, TD Securities boosted their price objective on shares of Magellan Aerospace from C$18.00 to C$19.00 and gave the company a “buy” rating in a research report on Monday, March 17th.

Magellan Aerospace Stock Performance

The company has a debt-to-equity ratio of 11.81, a current ratio of 2.58 and a quick ratio of 1.55. The firm has a market cap of C$710.92 million, a PE ratio of 36.77, a PEG ratio of -21.36 and a beta of 1.11. The business has a 50-day simple moving average of C$10.21 and a 200 day simple moving average of C$10.17.

Magellan Aerospace Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, March 19th. Magellan Aerospace’s dividend payout ratio is 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.