Magellan Aerospace Co. (MAL) to Issue Quarterly Dividend of $0.03 on June 28th

Magellan Aerospace Co. (TSE:MAL) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Friday, June 14th will be given a dividend of 0.025 per share on Friday, June 28th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date is Friday, June 14th.

Magellan Aerospace Price Performance

Shares of MAL stock traded up C$0.07 on Thursday, reaching C$7.97. The company’s stock had a trading volume of 5,109 shares, compared to its average volume of 8,243. The stock’s fifty day simple moving average is C$8.07 and its 200-day simple moving average is C$7.81. Magellan Aerospace has a 1 year low of C$7.02 and a 1 year high of C$8.67. The company has a current ratio of 2.82, a quick ratio of 1.55 and a debt-to-equity ratio of 9.96. The company has a market capitalization of C$455.72 million, a price-to-earnings ratio of 49.38, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace (TSE:MAL) last posted its earnings results on Monday, March 11th. The company reported C$0.01 earnings per share for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.07). Magellan Aerospace had a net margin of 1.05% and a return on equity of 1.26%. The business had revenue of C$223.58 million during the quarter, compared to analysts’ expectations of C$213.90 million. Analysts forecast that Magellan Aerospace will post 0.7047279 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, TD Securities lifted their target price on Magellan Aerospace from C$13.50 to C$14.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th.

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.