Methanex Co. (NASDAQ:MEOH) (TSE:MX) shot up 5.3% on Tuesday . The stock traded as high as $33.35 and last traded at $33.11, 502,028 shares traded hands during mid-day trading. A decline of 1% from the average session volume of 507,143 shares. The stock had previously closed at $31.45.
Several brokerages have recently weighed in on MEOH. CIBC reaffirmed a “hold” rating and issued a $38.00 target price on shares of Methanex in a research report on Friday, January 31st. Cowen decreased their target price on Methanex from $40.00 to $38.00 and set a “market perform” rating for the company in a research report on Friday, December 20th. Raymond James set a $48.00 target price on Methanex and gave the stock an “outperform” rating in a research report on Thursday, January 30th. TD Securities decreased their target price on Methanex from $47.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Finally, BidaskClub downgraded Methanex from a “hold” rating to a “sell” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $45.25.
The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.47 and a current ratio of 1.90. The business has a fifty day simple moving average of $38.03 and a 200 day simple moving average of $36.75. The company has a market cap of $2.47 billion, a P/E ratio of 35.99 and a beta of 1.85.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, January 29th. The specialty chemicals company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.03). Methanex had a return on equity of 4.18% and a net margin of 3.15%. The firm had revenue of $659.00 million for the quarter, compared to the consensus estimate of $666.88 million. During the same period in the prior year, the business earned $1.15 EPS. The company’s quarterly revenue was down 32.5% on a year-over-year basis. Equities research analysts expect that Methanex Co. will post 2.16 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.35%. The ex-dividend date of this dividend is Monday, March 16th. Methanex’s dividend payout ratio is presently 154.84%.
A number of large investors have recently added to or reduced their stakes in the business. M&G Investment Management Ltd. acquired a new stake in shares of Methanex during the 4th quarter worth approximately $489,112,000. Vanguard Group Inc. raised its position in shares of Methanex by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 2,245,124 shares of the specialty chemicals company’s stock worth $102,064,000 after purchasing an additional 37,368 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Methanex by 1.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 273,022 shares of the specialty chemicals company’s stock worth $10,550,000 after purchasing an additional 3,893 shares during the period. Westbourne Investment Advisors Inc. raised its position in shares of Methanex by 8.1% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 110,023 shares of the specialty chemicals company’s stock worth $4,251,000 after purchasing an additional 8,205 shares during the period. Finally, Man Group plc raised its position in shares of Methanex by 166.1% during the 3rd quarter. Man Group plc now owns 94,914 shares of the specialty chemicals company’s stock worth $3,367,000 after purchasing an additional 59,242 shares during the period. 81.42% of the stock is currently owned by institutional investors.
Methanex Company Profile (NASDAQ:MEOH)
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
