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

Key Points

• Methanex Corporation (NASDAQ:MEOH) has received an average analyst rating of "Moderate Buy", with five buy ratings, two holds, and one strong buy from eight ratings firms.
• The company recently declared a quarterly dividend of $0.185 per share, representing an annualized dividend of $0.74 and a yield of 2.2%.
• Methanex reported a quarterly EPS of $0.97, beating estimates, despite a 13.4% decline in revenue compared to the previous year.

Shares of Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX have received an average rating of "Moderate Buy" from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $45.25.

MEOH has been the topic of several recent analyst reports. UBS Group decreased their price objective on shares of Methanex from $51.00 to $48.00 and set a "buy" rating on the stock in a research report on Thursday. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective on the stock in a research report on Monday, May 5th. Royal Bank Of Canada raised shares of Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 target price for the company in a research note on Friday. CIBC raised their target price on shares of Methanex from $42.00 to $44.00 and gave the company an "outperformer" rating in a research note on Friday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Methanex in a research note on Tuesday, June 10th. They set a "neutral" rating and a $33.00 target price for the company.

Hedge Funds Weigh In On Methanex

A number of large investors have recently made changes to their positions in MEOH. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Methanex during the 2nd quarter valued at about $33,000. CWM LLC bought a new stake in Methanex during the 2nd quarter valued at about $33,000. SVB Wealth LLC bought a new stake in Methanex during the 1st quarter valued at about $38,000. Caitong International Asset Management Co. Ltd bought a new stake in Methanex during the 1st quarter valued at about $55,000. Finally, Headlands Technologies LLC bought a new stake in Methanex during the 1st quarter valued at about $82,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Price Performance

Shares of MEOH opened at $33.15 on Friday. The firm's 50-day simple moving average is $34.05 and its two-hundred day simple moving average is $36.97. Methanex has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.52 and a current ratio of 2.13. The stock has a market cap of $2.56 billion, a PE ratio of 9.78 and a beta of 0.92.

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, beating 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 company had revenue of $808.46 million for the quarter, compared to the consensus estimate of $835.04 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The firm's revenue for the quarter was down 13.4% compared to the same quarter last year. Analysts anticipate that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a dividend of $0.185 per share. 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 2.2%. Methanex's payout ratio is currently 21.83%.

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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