Methanex Corporation (NASDAQ:MEOH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have been assigned an average recommendation of “Moderate Buy” from the eleven research firms that are currently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $68.5556.

A number of research analysts have issued reports on the company. Zacks Research cut Methanex from a “strong-buy” rating to a “hold” rating in a report on Monday, June 22nd. Weiss Ratings raised shares of Methanex from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 29th. UBS Group increased their target price on shares of Methanex from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Wall Street Zen lowered shares of Methanex from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Royal Bank Of Canada decreased their price objective on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 1st.

Methanex Trading Up 0.3%

MEOH stock opened at $62.90 on Friday. Methanex has a 1-year low of $32.00 and a 1-year high of $66.75. The firm has a market cap of $4.87 billion, a P/E ratio of 61.07 and a beta of 0.58. The business’s 50 day moving average is $55.62 and its 200-day moving average is $56.46. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.87 EPS for the quarter, missing the consensus estimate of $4.00 by ($0.13). The company had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.43 billion. Methanex had a return on equity of 11.35% and a net margin of 2.07%.Methanex’s quarterly revenue was up 75.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.97 EPS. Equities analysts anticipate that Methanex will post 8.6 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, September 16th. Methanex’s payout ratio is currently 71.84%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MEOH. Engineers Gate Manager LP lifted its holdings in Methanex by 482.8% in the second quarter. Engineers Gate Manager LP now owns 75,384 shares of the specialty chemicals company’s stock valued at $3,479,000 after buying an additional 62,449 shares during the period. Nykredit A S bought a new position in Methanex in the second quarter valued at approximately $83,000. Parkside Financial Bank & Trust acquired a new stake in Methanex during the 2nd quarter worth $38,000. Readystate Asset Management LP acquired a new stake in Methanex during the 2nd quarter worth $2,255,000. Finally, Headlands Technologies LLC raised its position in shares of Methanex by 530.8% during the 2nd quarter. Headlands Technologies LLC now owns 29,267 shares of the specialty chemicals company’s stock valued at $1,351,000 after acquiring an additional 24,627 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation is a global producer and distributor of methanol, a versatile chemical used in the manufacture of formaldehyde, acetic acid, solvents, plastics, and other industrial products. Methanol is also used in fuel blending, marine fuel applications, wastewater treatment, and the production of emerging low-carbon fuels and chemicals.

Headquartered in Vancouver, Canada, Methanex operates methanol production facilities in regions including North America, South America, New Zealand, Egypt, and Trinidad.