Methanex Corporation (NASDAQ:MEOH) Announces $0.19 Quarterly Dividend

Methanex Corporation (NASDAQ:MEOH - Get Free Report) TSE: MX declared a quarterly dividend on Friday, July 18th, Wall Street Journal reports. Shareholders of record on Tuesday, September 16th will be given a dividend of 0.185 per share by the specialty chemicals company on Tuesday, September 30th. This represents a $0.74 annualized dividend and a dividend yield of 2.15%. The ex-dividend date is Tuesday, September 16th.

Methanex has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Methanex to earn $4.85 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 15.3%.

Methanex Price Performance

Methanex stock traded up $0.74 during trading hours on Tuesday, reaching $34.34. 300,458 shares of the stock were exchanged, compared to its average volume of 460,560. The stock has a 50 day moving average of $34.02 and a two-hundred day moving average of $37.88. The company has a market cap of $2.66 billion, a P/E ratio of 11.52 and a beta of 0.92. Methanex has a twelve month low of $25.46 and a twelve month high of $54.49. The company has a current ratio of 3.17, a quick ratio of 2.52 and a debt-to-equity ratio of 0.94.

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

Analysts Set New Price Targets

Several analysts have recently commented on MEOH shares. Barclays lowered their price objective on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. UBS Group lifted their price objective on shares of Methanex from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. CIBC reduced their price objective on Methanex from $47.00 to $44.00 and set an "outperformer" rating for the company in a report on Monday, May 5th. Raymond James Financial set a $45.00 target price on shares of Methanex and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Piper Sandler set a $48.00 target price on Methanex and gave the stock an "overweight" rating in a research report on Sunday, May 18th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $45.63.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Methanex stock. Amundi boosted its holdings in shares of Methanex Corporation (NASDAQ:MEOH - Free Report) TSE: MX by 3.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,791 shares of the specialty chemicals company's stock after acquiring an additional 848 shares during the quarter. Amundi's holdings in Methanex were worth $800,000 as of its most recent SEC filing. 73.49% of the stock is currently owned by institutional investors.

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.