TD Securities Increases Magellan Aerospace (TSE:MAL) Price Target to C$16.00

Magellan Aerospace (TSE:MAL) had its price target upped by 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 points to a potential upside of 101.01% from the company’s current price.

Magellan Aerospace Stock Performance

TSE MAL opened at C$7.96 on Tuesday. The company has a quick ratio of 1.55, a current ratio of 2.78 and a debt-to-equity ratio of 8.63. Magellan Aerospace has a fifty-two week low of C$7.02 and a fifty-two week high of C$8.67. The business has a fifty day moving average of C$8.06 and a 200-day moving average of C$7.83. The stock has a market cap of C$454.99 million, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of -21.36 and a beta of 1.11.

Magellan Aerospace (TSE:MAL) last released its earnings results on Monday, March 11th. The company reported C$0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.08 by C($0.07). The firm had revenue of C$223.58 million during the quarter, compared to analysts’ expectations of C$213.90 million. Magellan Aerospace had a net margin of 1.31% and a return on equity of 1.57%. As a group, analysts predict that Magellan Aerospace will post 0.6755137 earnings per share 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.