Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Hold” by the eighteen ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $58.77.
MEOH has been the topic of a number of research reports. Scotiabank restated a “hold” rating and set a $63.00 target price (up from $57.50) on shares of Methanex in a research report on Wednesday, January 3rd. BidaskClub upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Cowen restated an “outperform” rating and set a $65.00 target price (up from $58.00) on shares of Methanex in a research report on Thursday, December 14th. Raymond James Financial upped their target price on shares of Methanex from $60.00 to $63.50 and gave the company a “market perform” rating in a research report on Friday, February 2nd. Finally, TD Securities upped their target price on shares of Methanex from $66.00 to $68.00 and gave the company a “hold” rating in a research report on Friday, February 2nd.
Methanex (NASDAQ MEOH) traded up $1.00 during trading on Friday, reaching $56.75. 420,450 shares of the company’s stock were exchanged, compared to its average volume of 680,214. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. Methanex has a 52 week low of $39.47 and a 52 week high of $64.60. The firm has a market cap of $4,687.66, a P/E ratio of 15.75, a PEG ratio of 0.61 and a beta of 1.79.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.51. Methanex had a net margin of 10.34% and a return on equity of 22.72%. The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $796.57 million. During the same period in the prior year, the company posted $0.46 EPS. The company’s revenue was up 47.2% compared to the same quarter last year. research analysts expect that Methanex will post 6.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Investors of record on Saturday, March 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.33%. This is an increase from Methanex’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 15th. Methanex’s dividend payout ratio (DPR) is currently 33.90%.
Methanex announced that its Board of Directors has approved a stock repurchase program on Monday, March 5th that authorizes the company to buyback 6,590,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.
A number of hedge funds have recently made changes to their positions in MEOH. Andra AP fonden raised its holdings in Methanex by 36.2% during the 3rd quarter. Andra AP fonden now owns 33,500 shares of the specialty chemicals company’s stock worth $2,100,000 after buying an additional 8,900 shares during the period. Stevens Capital Management LP acquired a new stake in Methanex during the 3rd quarter worth approximately $1,481,000. Timber Hill LLC acquired a new stake in Methanex during the 3rd quarter worth approximately $410,000. Dynamic Technology Lab Private Ltd raised its holdings in Methanex by 92.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 37,108 shares of the specialty chemicals company’s stock worth $1,866,000 after buying an additional 17,820 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Methanex by 37.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,546 shares of the specialty chemicals company’s stock worth $3,136,000 after buying an additional 17,000 shares during the period. Hedge funds and other institutional investors own 80.18% of the company’s stock.
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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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