Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have earned an average recommendation of “Hold” from the seventeen brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $75.78.
MEOH has been the subject of several analyst reports. ValuEngine upgraded Methanex from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. BidaskClub upgraded Methanex from a “strong sell” rating to a “sell” rating in a report on Saturday, January 5th. Alembic Global Advisors cut Methanex from an “overweight” rating to a “neutral” rating in a report on Monday, December 31st. Zacks Investment Research upgraded Methanex from a “sell” rating to a “hold” rating in a report on Monday, April 8th. Finally, Cowen cut Methanex from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $74.00 to $62.00 in a report on Wednesday, February 6th.
A number of institutional investors have recently bought and sold shares of MEOH. Norges Bank bought a new position in Methanex during the fourth quarter worth about $49,470,000. Millennium Management LLC grew its holdings in Methanex by 298.6% during the fourth quarter. Millennium Management LLC now owns 635,587 shares of the specialty chemicals company’s stock worth $30,616,000 after purchasing an additional 476,114 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in Methanex by 228.8% during the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 411,775 shares of the specialty chemicals company’s stock worth $19,796,000 after purchasing an additional 286,524 shares during the period. Deutsche Bank AG grew its holdings in Methanex by 66.5% during the fourth quarter. Deutsche Bank AG now owns 637,836 shares of the specialty chemicals company’s stock worth $30,723,000 after purchasing an additional 254,815 shares during the period. Finally, AQR Capital Management LLC grew its holdings in Methanex by 9.0% during the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock worth $192,573,000 after purchasing an additional 200,663 shares during the period. Institutional investors and hedge funds own 72.04% of the company’s stock.
Shares of MEOH traded up $0.41 during midday trading on Tuesday, hitting $58.17. The stock had a trading volume of 285,197 shares, compared to its average volume of 340,363. Methanex has a twelve month low of $45.48 and a twelve month high of $83.23. The company has a market capitalization of $4.49 billion, a price-to-earnings ratio of 8.48, a P/E/G ratio of 0.84 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.83.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, January 30th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.60). The firm had revenue of $977.00 million during the quarter, compared to analyst estimates of $986.13 million. Methanex had a net margin of 14.48% and a return on equity of 31.00%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.70 EPS. Sell-side analysts anticipate that Methanex will post 4.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, March 31st. Investors of record on Sunday, March 17th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date of this dividend was Thursday, March 14th. Methanex’s payout ratio is currently 19.24%.
Methanex Company Profile
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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