Magellan Aerospace (TSE:MAL) PT Raised to C$16.00 at TD Securities

Magellan Aerospace (TSE:MAL) had its price target increased by research analysts at TD Securities from C$14.00 to C$16.00 in a research note issued on Tuesday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the stock. TD Securities’ price target suggests a potential upside of 101.01% from the company’s current price.

Magellan Aerospace Price Performance

Shares of TSE:MAL traded up C$0.07 during midday trading on Tuesday, reaching C$7.96. The company’s stock had a trading volume of 17,376 shares, compared to its average volume of 8,575. Magellan Aerospace has a fifty-two week low of C$7.02 and a fifty-two week high of C$8.67. The company has a market capitalization of C$454.99 million, a P/E ratio of 39.80, a P/E/G ratio of -21.36 and a beta of 1.11. The company has a debt-to-equity ratio of 8.63, a current ratio of 2.78 and a quick ratio of 1.55. The business’s fifty day simple moving average is C$8.07 and its 200-day simple moving average is C$7.83.

Magellan Aerospace (TSE:MAL) last announced 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 1.31% and a return on equity of 1.57%. The business had revenue of C$223.58 million during the quarter, compared to analyst estimates of C$213.90 million. As a group, equities research analysts expect that Magellan Aerospace will post 0.6755137 EPS for the current fiscal year.

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.