Magellan Aerospace (MAL) Downgraded to Hold at Canaccord Genuity

Canaccord Genuity cut shares of Magellan Aerospace (TSE:MAL) from a buy rating to a hold rating in a research report report published on Monday, BayStreet.CA reports. The firm currently has C$20.00 price target on the stock, down from their prior price target of C$21.00.

Shares of MAL stock opened at C$17.61 on Monday. Magellan Aerospace has a 1 year low of C$13.20 and a 1 year high of C$19.25. The company has a market cap of $1.02 billion and a PE ratio of 11.15. The company has a current ratio of 2.55, a quick ratio of 1.58 and a debt-to-equity ratio of 11.76.

Magellan Aerospace (TSE:MAL) last announced its earnings results on Wednesday, March 13th. The company reported C$0.51 earnings per share (EPS) for the quarter. The company had revenue of C$254.38 million for the quarter. Research analysts predict that Magellan Aerospace will post 1.59000004565879 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Thursday, June 13th. Magellan Aerospace’s dividend payout ratio (DPR) is 23.42%.

Magellan Aerospace Company Profile

Magellan Aerospace Corporation, through its subsidiaries, designs, engineers, and manufactures aero engine, and aero structure assemblies and components for aerospace markets in Canada, the United States, Europe, and Asia. The company offers aero engines products, including engine frames, compressor and fan cases, turbine cases, shafts, rotor spools, discs and blisks, and gearbox housings; and combustion liners and cases, exhaust frames and systems, engine bypass ducts and frames, acoustically treated exhaust systems, and fan cowl doors, as well as repair and overhaul services.

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