Methanex Co. (NASDAQ:MEOH) Receives Consensus Rating of “Moderate Buy” from Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has received an average rating of “Moderate Buy” from the eight analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $56.88.

A number of analysts have recently issued reports on MEOH shares. Jefferies Financial Group lifted their price objective on shares of Methanex from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 10th. UBS Group lifted their price objective on shares of Methanex from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Scotiabank lifted their price objective on shares of Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Friday, June 28th.

Methanex Trading Down 0.8 %

NASDAQ MEOH opened at $47.57 on Tuesday. Methanex has a one year low of $38.31 and a one year high of $56.43. The company’s 50 day moving average price is $50.14 and its 200 day moving average price is $47.61. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 1.17. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 20.16 and a beta of 1.39.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.30 by $0.35. Methanex had a net margin of 4.63% and a return on equity of 5.38%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $908.50 million. On average, sell-side analysts predict that Methanex will post 2.22 EPS for the current year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Monday, September 16th. Methanex’s payout ratio is currently 31.36%.

Institutional Trading of Methanex

A number of hedge funds have recently made changes to their positions in the stock. U S Global Investors Inc. grew its position in shares of Methanex by 125.0% during the second quarter. U S Global Investors Inc. now owns 9,000 shares of the specialty chemicals company’s stock worth $434,000 after buying an additional 5,000 shares in the last quarter. Blue Trust Inc. boosted its holdings in Methanex by 52,500.0% in the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after purchasing an additional 1,575 shares during the period. Dixon Mitchell Investment Counsel Inc. boosted its holdings in Methanex by 0.8% in the second quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,075,320 shares of the specialty chemicals company’s stock worth $52,085,000 after purchasing an additional 8,637 shares during the period. Value Partners Investments Inc. boosted its holdings in Methanex by 13.3% in the second quarter. Value Partners Investments Inc. now owns 5,110 shares of the specialty chemicals company’s stock worth $247,000 after purchasing an additional 599 shares during the period. Finally, Virtu Financial LLC acquired a new position in Methanex in the first quarter worth $462,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.