Methanex (NASDAQ:MEOH) Sets New 1-Year Low at $31.50

Methanex Co. (NASDAQ:MEOH) (TSE:MX) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $31.50 and last traded at $31.54, with a volume of 14935 shares changing hands. The stock had previously closed at $32.69.

Several equities analysts have recently issued reports on the stock. Jefferies Financial Group cut their price objective on shares of Methanex from $61.00 to $48.00 and set a “hold” rating on the stock in a report on Monday, July 15th. Raymond James set a $62.00 target price on Methanex and gave the company an “outperform” rating in a research report on Thursday, August 1st. Monness Crespi & Hardt reiterated a “buy” rating and issued a $69.00 target price (down previously from $77.00) on shares of Methanex in a research report on Thursday, June 27th. TD Securities dropped their target price on Methanex from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, BMO Capital Markets dropped their target price on Methanex from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, June 28th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. Methanex has an average rating of “Hold” and an average target price of $62.06.

The stock has a 50-day moving average of $38.13 and a 200 day moving average of $48.93. The stock has a market cap of $2.49 billion, a PE ratio of 4.47, a price-to-earnings-growth ratio of 1.21 and a beta of 1.69. The company has a quick ratio of 0.71, a current ratio of 1.04 and a debt-to-equity ratio of 0.92.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.16). Methanex had a return on equity of 18.33% and a net margin of 10.81%. The company had revenue of $734.00 million during the quarter, compared to analysts’ expectations of $719.86 million. During the same quarter in the prior year, the company posted $1.75 EPS. The company’s revenue for the quarter was down 22.7% on a year-over-year basis. On average, equities analysts anticipate that Methanex Co. will post 1.79 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.44 annualized dividend and a yield of 4.70%. Methanex’s dividend payout ratio is presently 20.99%.

Institutional investors have recently added to or reduced their stakes in the business. Resources Investment Advisors LLC. purchased a new stake in Methanex in the 2nd quarter worth approximately $36,000. Polaris Capital Management LLC purchased a new position in shares of Methanex during the 2nd quarter valued at approximately $43,000. Beutel Goodman & Co Ltd. purchased a new position in shares of Methanex during the 1st quarter valued at approximately $87,000. Quadrant Capital Group LLC lifted its position in shares of Methanex by 35.6% during the 1st quarter. Quadrant Capital Group LLC now owns 2,266 shares of the specialty chemicals company’s stock valued at $125,000 after buying an additional 595 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Methanex during the 1st quarter valued at approximately $198,000. Institutional investors and hedge funds own 67.74% of the company’s stock.

About Methanex (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.

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