Brokerages Set Methanex Co. (TSE:MX) Price Target at C$46.50

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.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH has been given a consensus rating of "Buy" by the five brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is C$46.50.

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

Methanex Stock Down 0.7%

MX stock traded down C$0.32 during midday trading on Wednesday, hitting C$48.78. 81,287 shares of the company's stock were exchanged, compared to its average volume of 206,389. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53. Methanex has a 12-month low of C$36.10 and a 12-month high of C$78.18. The firm has a 50 day moving average price of C$46.71 and a 200-day moving average price of C$48.03. The stock has a market capitalization of C$3.77 billion, a price-to-earnings ratio of 14.02, a price-to-earnings-growth ratio of 0.44 and a beta of 1.22.

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 at Methanex

In other news, Director Rich Sumner bought 1,479 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was bought at an average price of C$50.65 per share, for a total transaction of C$74,907.36. Insiders own 0.35% 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.