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

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%.

Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX has been assigned a consensus rating of "Moderate Buy" from the eight research firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $44.8750.

A number of equities research analysts have commented on the company. Piper Sandler set a $48.00 price target on Methanex and gave the company an "overweight" rating in a research note on Sunday, May 18th. UBS Group decreased their price target on Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a research note on Thursday, July 31st. Royal Bank Of Canada upgraded Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research note on Friday, August 1st. Raymond James Financial set a $45.00 price target on Methanex and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, CIBC increased their price target on Methanex from $42.00 to $44.00 and gave the company an "outperformer" rating in a research note on Friday, August 1st.

Methanex Stock Down 0.6%

Shares of NASDAQ MEOH traded down $0.21 during mid-day trading on Wednesday, reaching $35.51. 222,511 shares of the company were exchanged, compared to its average volume of 372,339. The company has a quick ratio of 1.43, a current ratio of 2.13 and a debt-to-equity ratio of 1.00. The stock has a market cap of $2.75 billion, a price-to-earnings ratio of 10.47 and a beta of 0.87. Methanex has a 1 year low of $25.46 and a 1 year high of $54.49. The firm has a 50-day moving average of $34.01 and a 200 day moving average of $34.46.

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 return on equity of 12.61% and a net margin of 7.02%.The firm had revenue of $808.46 million during the quarter, compared to analysts' expectations of $835.04 million. During the same period in the prior year, the business posted $0.62 EPS. The firm's quarterly revenue was down 13.4% on a year-over-year basis. On average, research analysts expect that Methanex will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.1%. Methanex's dividend payout ratio is currently 21.83%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its holdings in shares of Methanex by 41.8% in the first quarter. Bank of New York Mellon Corp now owns 1,276,649 shares of the specialty chemicals company's stock valued at $44,798,000 after purchasing an additional 376,365 shares during the period. Ameriprise Financial Inc. increased its holdings in shares of Methanex by 3.4% in the fourth quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock valued at $588,000 after purchasing an additional 383 shares during the period. Two Sigma Advisers LP acquired a new position in shares of Methanex in the fourth quarter valued at about $934,000. First Trust Advisors LP acquired a new position in shares of Methanex in the fourth quarter valued at about $632,000. Finally, Mariner LLC acquired a new position in shares of Methanex in the fourth quarter valued at about $352,000. 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.