Methanex Corporation (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Hold” by the eighteen analysts that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $57.58.
MEOH has been the subject of several recent research reports. Royal Bank Of Canada cut their price target on Methanex Corporation from $54.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, July 18th. ValuEngine raised Methanex Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Scotiabank set a $53.00 price target on Methanex Corporation and gave the company a “sector perform” rating in a report on Tuesday, July 4th. BMO Capital Markets reissued a “buy” rating on shares of Methanex Corporation in a report on Friday, June 30th. Finally, Zacks Investment Research lowered Methanex Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 23rd.
Several large investors have recently bought and sold shares of MEOH. Acadian Asset Management LLC purchased a new stake in shares of Methanex Corporation in the first quarter worth about $388,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of Methanex Corporation in the first quarter worth about $310,000. US Bancorp DE lifted its position in shares of Methanex Corporation by 13.1% in the first quarter. US Bancorp DE now owns 26,248 shares of the specialty chemicals company’s stock worth $1,231,000 after buying an additional 3,031 shares in the last quarter. Comerica Bank lifted its position in shares of Methanex Corporation by 3.1% in the first quarter. Comerica Bank now owns 5,892 shares of the specialty chemicals company’s stock worth $264,000 after buying an additional 178 shares in the last quarter. Finally, World Asset Management Inc lifted its position in shares of Methanex Corporation by 0.8% in the first quarter. World Asset Management Inc now owns 5,594 shares of the specialty chemicals company’s stock worth $262,000 after buying an additional 46 shares in the last quarter. Institutional investors own 81.92% of the company’s stock.
Shares of Methanex Corporation (NASDAQ MEOH) opened at 50.60 on Friday. The stock has a market cap of $4.36 billion, a PE ratio of 19.69 and a beta of 1.74. Methanex Corporation has a one year low of $28.77 and a one year high of $53.35. The company’s 50-day moving average price is $46.94 and its 200-day moving average price is $45.24.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.08 by ($0.23). Methanex Corporation had a net margin of 8.92% and a return on equity of 12.43%. The company had revenue of $669.00 million for the quarter, compared to the consensus estimate of $772.41 million. During the same period in the prior year, the firm posted ($0.34) EPS. The business’s revenue for the quarter was up 42.9% on a year-over-year basis. Equities research analysts anticipate that Methanex Corporation will post $3.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Saturday, September 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.37%. Methanex Corporation’s payout ratio is 47.81%.
Methanex Corporation announced that its board has approved a share repurchase program on Wednesday, July 26th that permits the company to repurchase 1,660,000 outstanding shares. This repurchase authorization permits the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
Methanex Corporation 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.
Receive News & Ratings for Methanex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex Corporation and related companies with MarketBeat.com's FREE daily email newsletter.