Methanex Corporation (NASDAQ:MEOH) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Methanex Corporation (NASDAQ:MEOH) has received an average rating of "Moderate Buy" from eight brokerages, with two hold recommendations and five buy recommendations.
• The company's recent quarterly earnings reported $0.97 earnings per share, exceeding analyst estimates of $0.42, despite a 13.4% decline in revenue year-over-year.
• Methanex has recently declared a quarterly dividend of $0.185 per share, indicating a yield of 2.1% and a dividend payout ratio of 21.83%.

Shares of Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX have earned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $44.8750.

Several equities research analysts recently commented on MEOH shares. JPMorgan Chase & Co. started coverage on shares of Methanex in a research note on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price target on the stock. Wall Street Zen downgraded shares of Methanex from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Piper Sandler set a $48.00 price objective on shares of Methanex and gave the stock an "overweight" rating in a report on Sunday, May 18th. Scotiabank set a $50.00 price target on shares of Methanex and gave the company a "sector outperform" rating in a report on Tuesday, August 5th. Finally, Royal Bank Of Canada raised shares of Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a report on Friday, August 1st.

Methanex Price Performance

Shares of MEOH opened at $35.75 on Wednesday. Methanex has a 1-year low of $25.46 and a 1-year high of $54.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 2.13 and a quick ratio of 1.43. The firm has a market capitalization of $2.76 billion, a PE ratio of 10.55 and a beta of 0.93. The company's fifty day moving average price is $34.10 and its 200-day moving average price is $34.88.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.55. Methanex had a net margin of 7.02% and a return on equity of 12.61%. The business had revenue of $808.46 million during the quarter, compared to the consensus estimate of $835.04 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The company's revenue was down 13.4% compared to the same quarter last year. On average, equities research analysts predict that Methanex will post 4.32 EPS for the current year.

Methanex Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 annualized dividend and a yield of 2.1%. Methanex's dividend payout ratio is 21.83%.

Institutional Investors Weigh In On Methanex

A number of large investors have recently added to or reduced their stakes in the company. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Methanex in the 2nd quarter worth about $33,000. CWM LLC acquired a new position in shares of Methanex in the 2nd quarter worth approximately $33,000. SVB Wealth LLC acquired a new position in shares of Methanex in the 1st quarter worth approximately $38,000. NewEdge Advisors LLC acquired a new position in shares of Methanex in the second quarter worth about $50,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of Methanex in the first quarter worth about $55,000. 73.49% of the stock is owned by institutional investors and hedge funds.

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.

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