Methanex Stock Rating Upgraded by TD Securities (MEOH)
Methanex (NASDAQ:MEOH) was upgraded by stock analysts at TD Securities from a “hold” rating to a “buy” rating in a report issued on Thursday, TheFlyOnTheWall.com reports.
Several other analysts have also recently commented on the stock. Analysts at Scotiabank reiterated a “sector outperform” rating on shares of Methanex in a research note on Wednesday, April 30th. Separately, analysts at Raymond James downgraded shares of Methanex from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 30th. They now have a $75.00 price target on the stock, down previously from $85.00. Finally, analysts at Zacks upgraded shares of Methanex from a “neutral” rating to an “outperform” rating in a research note on Tuesday, April 8th. They now have a $79.00 price target on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $75.17.
Shares of Methanex (NASDAQ:MEOH) traded up 2.41% during mid-day trading on Thursday, hitting $58.54. 453,314 shares of the company’s stock traded hands. Methanex has a 1-year low of $40.14 and a 1-year high of $73.43. The stock’s 50-day moving average is $62.4 and its 200-day moving average is $61.9. The company has a market cap of $5.650 billion and a price-to-earnings ratio of 13.36.
Methanex (NASDAQ:MEOH) last posted its quarterly earnings results on Thursday, May 1st. The company reported $1.50 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.84 by $0.34. On average, analysts predict that Methanex will post $5.33 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Thursday, June 12th.
Methanex Corporation (NASDAQ:MEOH) is a supplier of methanol to international markets in Asia Pacific, North America, Europe and Latin America.
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