Methanex Corporation (MEOH) to Issue Quarterly Dividend of $0.19 on March 31st

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, January 29th. Investors of record on Tuesday, March 17th will be paid a dividend of 0.185 per share by the specialty chemicals company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, March 17th.

Methanex has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Methanex has a dividend payout ratio of 20.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Methanex to earn $4.85 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 15.3%.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $51.75 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.06 and a quick ratio of 1.37. The firm has a market capitalization of $4.00 billion, a PE ratio of 45.80 and a beta of 0.65. Methanex has a 1-year low of $25.46 and a 1-year high of $59.09. The business’s fifty day moving average price is $48.78 and its two-hundred day moving average price is $41.48.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Thursday, March 5th. The specialty chemicals company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.95). The firm had revenue of $968.81 million for the quarter, compared to analyst estimates of $1.03 billion. Methanex had a net margin of 2.21% and a return on equity of 5.35%. The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm posted $1.24 EPS. On average, research analysts expect that Methanex will post 4.32 EPS for the current year.

Analyst Ratings Changes

MEOH has been the topic of several recent research reports. Royal Bank Of Canada lifted their price objective on shares of Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Scotiabank restated an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. Raymond James Financial raised their price target on shares of Methanex from $45.00 to $50.00 and gave the company a “market perform” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. Finally, UBS Group boosted their price objective on Methanex from $53.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.90.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).