Magellan Aerospace (TSE:MAL) Shares Down 0.6% – What’s Next?

Magellan Aerospace Co. (TSE:MAL) shares fell 0.6% on Wednesday . The company traded as low as C$10.74 and last traded at C$10.74. 4,397 shares were traded during mid-day trading, a decline of 55% from the average session volume of 9,716 shares. The stock had previously closed at C$10.81.

Wall Street Analyst Weigh In

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

Magellan Aerospace Stock Performance

The stock has a fifty day simple moving average of C$10.53 and a 200-day simple moving average of C$9.38. The stock has a market cap of C$604.54 million, a P/E ratio of 35.27, a PEG ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 12.92, a quick ratio of 1.55 and a current ratio of 2.44.

Magellan Aerospace Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 17th. Magellan Aerospace’s payout ratio is 33.33%.

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.