Methanex (TSE:MX) Stock Crosses Above Two Hundred Day Moving Average - What's Next?

Key Points

• Methanex shares recently surpassed their 200-day moving average of C$47.27, with the stock trading as high as C$54.60 and last at C$53.48.
• The company has received upgraded ratings from analysts, including a shift from "hold" to "moderate buy" by Royal Bank Of Canada, reflecting positive investment sentiment.
• Methanex declared a quarterly dividend of $0.185 per share, representing an annualized yield of 1.4% while maintaining a payout ratio of 21.26%.

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of C$47.27 and traded as high as C$54.60. Methanex shares last traded at C$53.48, with a volume of 733,840 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MX shares. Raymond James Financial set a C$40.00 target price on shares of Methanex and gave the company an "outperform" rating in a research note on Friday, June 13th. Royal Bank Of Canada raised shares of Methanex from a "hold" rating to a "moderate buy" rating in a research note on Friday, August 1st. Finally, Scotiabank set a C$53.00 target price on shares of Methanex and gave the company an "outperform" rating in a research note on Friday, June 13th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to MarketBeat, Methanex has an average rating of "Buy" and a consensus target price of C$46.50.

Methanex Price Performance

The stock has a market capitalization of C$4.23 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53. The company's 50-day moving average is C$48.73 and its 200 day moving average is C$47.05.

Methanex Cuts Dividend

The firm also recently declared 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. This represents a $0.74 annualized dividend and a yield of 1.4%. Methanex's dividend payout ratio (DPR) is presently 21.26%.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex's customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel.