Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels. It serves chemical and petrochemical producers. Methanex Corporation was incorporated in 1968 and is headquartered in Vancouver, Canada.
Methanex Stock Performance
Shares of MEOH opened at $35.77 on Monday. Methanex has a 12 month low of $29.61 and a 12 month high of $56.79. The stock has a fifty day moving average price of $41.14 and a 200-day moving average price of $47.44. The company has a current ratio of 2.35, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90. The firm has a market cap of $2.54 billion, a PE ratio of 5.55 and a beta of 1.67.
Methanex (NASDAQ:MEOH - Get Rating) (TSE:MX) last released its quarterly earnings data on Wednesday, July 27th. The specialty chemicals company reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.85 by ($0.69). Methanex had a net margin of 11.10% and a return on equity of 24.76%. The company had revenue of $1.14 billion for the quarter, compared to analysts' expectations of $1.18 billion. Equities research analysts predict that Methanex will post 5.78 earnings per share for the current fiscal year.
Methanex Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be given a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Thursday, September 15th. This is a positive change from Methanex's previous quarterly dividend of $0.15. Methanex's payout ratio is presently 8.99%.
Wall Street Analysts Forecast Growth
MEOH has been the topic of several recent research reports. StockNews.com cut Methanex from a "buy" rating to a "hold" rating in a research report on Monday, August 1st. Barclays lowered their price objective on Methanex from $60.00 to $52.00 in a research report on Tuesday, August 2nd. UBS Group lowered their target price on Methanex from $36.00 to $34.00 and set a "sell" rating for the company in a report on Thursday, July 28th. Jefferies Financial Group upped their target price on Methanex from $67.00 to $73.00 in a research report on Thursday, June 16th. Finally, Scotiabank lowered Methanex from a "sector outperform" rating to a "sector perform" rating and set a $50.00 price target for the company. in a research report on Tuesday, May 31st. Two analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Methanex presently has a consensus rating of "Hold" and an average target price of $51.23.