Methanex Corporation (NASDAQ:MEOH) Given Average Recommendation of "Moderate Buy" by Brokerages

Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX has earned an average rating of "Moderate Buy" from the eight research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $44.88.

MEOH has been the topic of several analyst reports. JPMorgan Chase & Co. initiated coverage on Methanex in a research report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 target price on the stock. Wall Street Zen cut Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Scotiabank raised Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 target price on the stock in a research report on Monday, May 5th. Royal Bank Of Canada cut their target price on Methanex from $55.00 to $50.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, Barclays cut their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st.

Methanex Trading Down 1.4%

NASDAQ MEOH opened at $33.90 on Tuesday. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 11.38 and a beta of 0.92. Methanex has a 52 week low of $25.46 and a 52 week high of $54.49. The business has a 50 day moving average price of $33.73 and a 200-day moving average price of $38.83. The company has a quick ratio of 2.52, a current ratio of 3.17 and a debt-to-equity ratio of 0.94.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a return on equity of 12.45% and a net margin of 6.00%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. As a group, equities analysts expect that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Monday, June 16th were given a $0.185 dividend. The ex-dividend date of this dividend was Monday, June 16th. This represents a $0.74 annualized dividend and a yield of 2.18%. Methanex's dividend payout ratio is currently 24.83%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA boosted its position in Methanex by 2.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock worth $573,000 after purchasing an additional 293 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Methanex by 3.4% during the 4th quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock worth $588,000 after acquiring an additional 383 shares during the period. Value Partners Investments Inc. grew its stake in shares of Methanex by 7.3% during the 4th quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company's stock worth $302,000 after acquiring an additional 411 shares during the period. Signaturefd LLC grew its stake in shares of Methanex by 15.0% during the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company's stock worth $172,000 after acquiring an additional 450 shares during the period. Finally, Nebula Research & Development LLC grew its stake in shares of Methanex by 4.7% during the 4th quarter. Nebula Research & Development LLC now owns 10,180 shares of the specialty chemicals company's stock worth $508,000 after acquiring an additional 454 shares during the period. Hedge funds and other institutional investors 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.

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