Methanex Co. (TSE:MX) Receives C$46.50 Average Price Target from Brokerages

Key Points

• Methanex Co. has received an average recommendation of "Buy" from five research firms, with the average 1-year target price set at C$46.50.
• The company recently announced a quarterly dividend of $0.185 per share, representing a 1.5% dividend yield and a payout ratio of 31.43%.
• Methanex's stock has shown fluctuations, with a twelve-month low of C$36.10 and a high of C$78.18, currently trading at C$49.48.

Shares of Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH have been assigned a consensus rating of "Buy" from the five brokerages that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is C$46.50.

Several research analysts have recently commented on MX shares. Raymond James Financial set a C$40.00 target price on Methanex and gave the stock an "outperform" rating in a research report on Friday, June 13th. Scotiabank set a C$53.00 target price on Methanex and gave the stock an "outperform" rating in a research report on Friday, June 13th. Finally, Royal Bank Of Canada upgraded Methanex from a "hold" rating to a "moderate buy" rating in a research report on Friday, August 1st.

Methanex Stock Performance

Shares of MX traded down C$0.32 during mid-day trading on Wednesday, hitting C$48.78. The stock had a trading volume of 81,287 shares, compared to its average volume of 206,389. The company has a market cap of C$3.77 billion, a PE ratio of 14.02, a PEG ratio of 0.44 and a beta of 1.22. The company's fifty day simple moving average is C$46.69 and its two-hundred day simple moving average is C$48.15. The company has a quick ratio of 1.59, a current ratio of 1.34 and a debt-to-equity ratio of 148.53. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18.

Methanex Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.5%. Methanex's payout ratio is 21.26%.

Insider Activity

In related news, Director Rich Sumner purchased 1,479 shares of the business's stock in a transaction that occurred on Friday, June 20th. The shares were acquired at an average price of C$50.65 per share, with a total value of C$74,907.36. Company insiders own 0.35% of the company's stock.

Methanex Company Profile

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.