Methanex Co. (TSE:MX) Receives Average Recommendation of "Buy" from Brokerages

Key Points

• Methanex Co. has received a consensus rating of "Buy" from five analysts, with an average 12-month price target of C$46.50.
• The company announced a quarterly dividend of $0.185, reflecting an annualized dividend of $0.74 and a yield of 1.5%.
• Director Rich Sumner purchased 1,479 shares of Methanex on June 20th at an average price of C$50.65, indicating insider confidence in the stock.

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

A number of analysts recently commented on MX shares. Royal Bank Of Canada raised Methanex from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. 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, 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.

Insiders Place Their Bets

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

Methanex Price Performance

Shares of MX traded down C$0.32 during trading hours on Wednesday, reaching C$48.78. 81,287 shares of the company traded hands, compared to its average volume of 206,389. The company has a quick ratio of 1.59, a current ratio of 1.34 and a debt-to-equity ratio of 148.53. The stock has a market capitalization of C$3.77 billion, a PE ratio of 14.02, a price-to-earnings-growth ratio of 0.44 and a beta of 1.22. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18. The stock has a fifty day simple moving average of C$46.69 and a 200 day simple moving average of C$48.15.

Methanex Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.5%. Methanex's dividend payout ratio (DPR) is presently 21.26%.

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.