TD Securities Raises Magellan Aerospace (TSE:MAL) Price Target to C$17.00

Magellan Aerospace (TSE:MAL) had its price objective raised by TD Securities from C$16.00 to C$17.00 in a research note published on Thursday, BayStreet.CA reports. TD Securities currently has a buy rating on the stock.

Magellan Aerospace Trading Up 1.3 %

Shares of MAL stock opened at C$8.80 on Thursday. The firm’s 50 day moving average is C$8.44 and its 200 day moving average is C$8.15. The stock has a market capitalization of C$503.01 million, a P/E ratio of 44.00, a P/E/G ratio of -21.36 and a beta of 1.09. Magellan Aerospace has a 12-month low of C$7.02 and a 12-month high of C$9.55. The company has a current ratio of 2.78, a quick ratio of 1.55 and a debt-to-equity ratio of 8.63.

Magellan Aerospace Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, September 16th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.14%. Magellan Aerospace’s dividend payout ratio is presently 50.00%.

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.