Shares of Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX) have received a consensus recommendation of “Hold” by the fifteen ratings firms that currently cover the company, Marketbeat Ratings reports. Two analysts rated the stock with a sell recommendation, five gave the company a hold recommendation and five gave the company a buy recommendation. The 12-month average target price among brokers who updated their coverage on the stock in the past year is $51.23.
Several research companies have recently weighed in on MEOH. Jefferies Financial Group raised its target price on Methanex from $67.00 to $73.00 in a Thursday, June 16 research report. Scotiabank downgraded Methanex shares from an “sector outperform” rating to an “sector perform” rating and set a price target of $50.00 for the company. in a research note from Tuesday, May 31. Alembic Global Advisors reaffirmed a “hold” rating and issued a target price of $40.00 on Methanex shares in a Monday, May 9 report. Royal Bank of Canada lowered its price target on Methanex from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Friday, July 29. Finally, StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a research report on Saturday.
Methanex is trading down 0.3%
MEOH shares opened at $37.28 on Tuesday. The stock has a market capitalization of $2.61 billion, a P/E ratio of 5.78 and a beta of 1.67. The company has a current ratio of 2.35, a quick ratio of 1.77 and a debt ratio of 0.90. The company’s 50-day moving average is $38.18 and its 200-day moving average is $46.77. Methanex has a 12-month low of $31.33 and a 12-month high of $56.79.
Methanex (NASDAQ:MEOH – Get Rating) (TSE:MX) last announced its results on Wednesday, July 27. The specialty chemicals company reported earnings per share (EPS) of $1.16 for the quarter, missing the consensus estimate of $1.85 per ($0.69). The company posted revenue of $1.14 billion in the quarter, compared to $1.18 billion expected by analysts. Methanex had a return on equity of 24.76% and a net margin of 11.10%. Research analysts expect Methanex to post earnings per share of 5.78 for the current year.
Methanex increases its dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30. Shareholders of record on Friday, September 16 will receive a dividend of $0.175 per share. This is a positive change from Methanex’s previous quarterly dividend of $0.15. This represents a dividend of $0.70 on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, September 15. Methanex’s payout ratio is currently 8.99%.
Methanex Institutional Trading
Several institutional investors and hedge funds have recently changed their stock holdings. American Century Companies Inc. increased its equity stake in Methanex to 49.4% in the fourth quarter. American Century Companies Inc. now owns 73,417 shares of the specialty chemicals company worth $2,904,000 after purchasing an additional 24,291 shares during the period. Northern Trust Corp increased its stake in Methanex by 6.4% during the fourth quarter. Northern Trust Corp now owns 278,202 shares of the specialty chemicals company worth $11,003,000 after acquiring an additional 16,662 shares last quarter. Raymond James & Associates increased its position in Methanex by 762.7% during the 4th quarter. Raymond James & Associates now owns 121,148 shares of the specialty chemicals company valued at $4,799,000 after purchasing an additional 107,105 shares during the period. Shell Asset Management Co. raised its position in Methanex shares by 22.8% in the fourth quarter. Shell Asset Management Co. now owns 7,529 shares of the specialty chemicals company worth $298,000 after purchasing an additional 1,400 shares during the period. Finally, Dimensional Fund Advisors LP increased its equity stake in Methanex by 15.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 431,176 shares of the specialty chemicals company valued at $17,053,000 after buying an additional 57,980 shares last quarter. Institutional investors hold 91.37% of the company’s shares.
Methanex company profile
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Methanex Corporation produces and supplies methanol in North America, Asia-Pacific, Europe and South America. The Company also purchases methanol produced by others under methanol removal contracts and on the spot market. In addition, it owns and leases storage facilities and terminals. The company owns and manages a fleet of approximately 30 ocean-going vessels.
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