TD Securities Lowers Magellan Aerospace Corp (MAL) to Hold

TD Securities lowered shares of Magellan Aerospace Corp (TSE:MAL) from a buy rating to a hold rating in a research note issued to investors on Wednesday. The firm currently has C$24.00 target price on the stock.

Separately, Canaccord Genuity lifted their price objective on Magellan Aerospace Corp from C$21.00 to C$23.00 and gave the company a buy rating in a research report on Friday, May 5th.

Magellan Aerospace Corp (TSE:MAL) opened at 18.37 on Wednesday. The company’s 50-day moving average price is $20.04 and its 200 day moving average price is $19.68. The stock has a market capitalization of $1.07 billion and a P/E ratio of 10.24. Magellan Aerospace Corp has a 52-week low of $15.80 and a 52-week high of $21.39.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a dividend of $0.065 per share. This is a boost from Magellan Aerospace Corp’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.26 dividend on an annualized basis and a yield of 1.42%.

Magellan Aerospace Corp Company Profile

Magellan Aerospace Corporation is a Canada-based supplier of components to the aerospace industry and in certain applications for power generation projects. The Company engineers and manufactures aeroengine and aerostructure components for aerospace markets, including products for defense and space markets, and complementary specialty products.

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