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

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.

Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX has earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $44.8750.

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Methanex in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $33.00 price objective for the company. UBS Group lowered their price objective on Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a research report on Thursday, July 31st. Raymond James Financial set a $45.00 price objective on Methanex and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wall Street Zen lowered Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Finally, Royal Bank Of Canada upgraded Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, August 1st.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently bought and sold shares of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Methanex in the second quarter valued at $33,000. CWM LLC acquired a new stake in Methanex in the second quarter valued at $33,000. SVB Wealth LLC acquired a new stake in Methanex in the first quarter valued at $38,000. Caitong International Asset Management Co. Ltd acquired a new stake in Methanex in the first quarter valued at $55,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Methanex in the fourth quarter valued at $106,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Price Performance

NASDAQ MEOH traded up $0.13 during mid-day trading on Friday, hitting $33.76. The stock had a trading volume of 210,130 shares, compared to its average volume of 562,136. Methanex has a twelve month low of $25.46 and a twelve month 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 stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 9.94 and a beta of 0.93. The firm's 50 day moving average is $34.05 and its 200 day moving average is $36.66.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm earned $0.62 earnings per share. The business's revenue for the quarter was down 13.4% on a year-over-year basis. Equities research analysts forecast that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be issued a $0.185 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.2%. Methanex's dividend payout ratio (DPR) is 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.