Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been assigned a consensus rating of “Hold” from the eighteen analysts that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $58.77.
MEOH has been the subject of several recent analyst reports. TD Securities lifted their price target on Methanex from $59.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. BidaskClub upgraded Methanex from a “hold” rating to a “buy” rating in a report on Friday, December 15th. ValuEngine cut Methanex from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. BMO Capital Markets reiterated a “buy” rating and set a $57.00 target price on shares of Methanex in a report on Friday, November 24th. Finally, Jefferies Group boosted their target price on Methanex to $72.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd.
Shares of Methanex (NASDAQ MEOH) traded down $0.05 during mid-day trading on Wednesday, reaching $57.15. 419,100 shares of the company traded hands, compared to its average volume of 751,297. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The firm has a market cap of $4,787.49, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.62 and a beta of 1.73. Methanex has a 12-month low of $39.47 and a 12-month high of $64.60.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.19 by $0.51. The company had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $796.57 million. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The firm’s revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.46 EPS. sell-side analysts predict that Methanex will post 6.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Thursday, March 15th. This is a boost from Methanex’s previous quarterly dividend of $0.30. Methanex’s dividend payout ratio is currently 33.90%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Methanex by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock worth $91,090,000 after acquiring an additional 76,132 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its holdings in Methanex by 4.0% in the 4th quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 911,000 shares of the specialty chemicals company’s stock worth $69,382,000 after acquiring an additional 35,363 shares during the period. Polaris Capital Management LLC boosted its holdings in Methanex by 30,312.3% in the 4th quarter. Polaris Capital Management LLC now owns 699,482 shares of the specialty chemicals company’s stock worth $46,152,000 after acquiring an additional 697,182 shares during the period. TD Asset Management Inc. boosted its holdings in Methanex by 2.4% in the 3rd quarter. TD Asset Management Inc. now owns 612,576 shares of the specialty chemicals company’s stock worth $30,711,000 after acquiring an additional 14,592 shares during the period. Finally, AGF Investments Inc. boosted its holdings in Methanex by 21.9% in the 3rd quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock worth $25,082,000 after acquiring an additional 89,812 shares during the period. Hedge funds and other institutional investors own 81.60% 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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