Methanex Given Consensus Recommendation of “Buy” by Brokerages (NASDAQ:MEOH)
Shares of Methanex (NASDAQ:MEOH) have earned a consensus rating of “Buy” from the eight ratings firms that are presently covering the company, Analyst Ratings Network reports. Two analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $75.83.
Shares of Methanex (NASDAQ:MEOH) opened at 66.10 on Thursday. Methanex has a 52 week low of $45.79 and a 52 week high of $73.43. The stock has a 50-day moving average of $63.94 and a 200-day moving average of $63.13. The company has a market cap of $6.235 billion and a P/E ratio of 13.00.
Methanex (NASDAQ:MEOH) last announced its earnings results on Friday, August 1st. The company reported $1.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.02 by $0.01. On average, analysts predict that Methanex will post $4.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, September 12th.
MEOH has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Methanex from $66.00 to $70.00 in a research note on Friday, August 1st. Separately, analysts at Scotiabank downgraded shares of Methanex from an “outperform” rating to a “sector perform” rating in a research note on Friday, August 1st. Finally, analysts at TD Securities downgraded shares of Methanex from a “buy” rating to a “hold” rating in a research note on Thursday, July 31st. They now have a $69.00 price target on the stock.
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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