Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have been assigned a consensus recommendation of “Hold” from the eighteen research firms that are covering the firm, MarketBeat reports. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $55.53.
Several equities analysts recently issued reports on the company. ValuEngine cut Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday. BMO Capital Markets reissued a “buy” rating and set a $57.00 price target on shares of Methanex in a report on Friday, November 24th. Scotiabank increased their price target on Methanex from $53.50 to $74.00 and gave the company a “sector perform” rating in a report on Thursday. Jefferies Group increased their price target on Methanex to $60.00 and gave the company a “buy” rating in a report on Tuesday, September 12th. Finally, Cowen reissued a “buy” rating and set a $55.00 price target on shares of Methanex in a report on Friday, September 1st.
A number of institutional investors have recently made changes to their positions in MEOH. Geode Capital Management LLC raised its holdings in Methanex by 12.0% in the 1st quarter. Geode Capital Management LLC now owns 92,660 shares of the specialty chemicals company’s stock worth $4,326,000 after purchasing an additional 9,921 shares during the period. NGAM Advisors L.P. raised its holdings in Methanex by 1.5% in the 2nd quarter. NGAM Advisors L.P. now owns 22,054 shares of the specialty chemicals company’s stock worth $971,000 after purchasing an additional 333 shares during the period. Great West Life Assurance Co. Can raised its holdings in Methanex by 0.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 1,091,259 shares of the specialty chemicals company’s stock worth $48,036,000 after purchasing an additional 9,443 shares during the period. Spark Investment Management LLC bought a new position in Methanex in the 2nd quarter worth $3,179,000. Finally, Stonebridge Capital Management Inc. raised its holdings in Methanex by 17.1% in the 2nd quarter. Stonebridge Capital Management Inc. now owns 8,575 shares of the specialty chemicals company’s stock worth $378,000 after purchasing an additional 1,250 shares during the period. 83.13% of the stock is currently owned by institutional investors.
Methanex (NASDAQ MEOH) traded down $0.15 during mid-day trading on Friday, reaching $54.00. The company had a trading volume of 505,574 shares, compared to its average volume of 788,520. The company has a market cap of $4,540.00, a PE ratio of 16.46, a PEG ratio of 0.97 and a beta of 1.82. Methanex has a fifty-two week low of $39.47 and a fifty-two week high of $55.05. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $614.19 million. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The firm’s quarterly revenue was up 41.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. analysts predict that Methanex will post 3.72 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, December 31st. Stockholders of record on Sunday, December 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.22%. Methanex’s payout ratio is 39.09%.
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Methanex Company Profile
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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