Methanex Corp. (MEOH) Shares Down 2.3%
Methanex Corp. (NASDAQ:MEOH)’s share price was down 2.3% during trading on Tuesday . The company traded as low as $28.77 and last traded at $28.85, with a volume of 517,997 shares. The stock had previously closed at $29.53.
A number of equities analysts have recently commented on MEOH shares. CIBC upgraded Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 target price for the company in a report on Tuesday, July 5th. Jefferies Group reiterated a “buy” rating on shares of Methanex Corp. in a report on Wednesday, July 6th. TD Securities upgraded Methanex Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Zacks Investment Research upgraded Methanex Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, Scotiabank reiterated an “outperform” rating and issued a $35.00 target price on shares of Methanex Corp. in a report on Wednesday, August 31st. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Methanex Corp. has an average rating of “Buy” and a consensus target price of $39.39.
The firm’s 50 day moving average price is $29.42 and its 200 day moving average price is $31.03. The stock has a market capitalization of $2.60 billion, a price-to-earnings ratio of 65.53 and a beta of 2.10.
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Methanex Corp. (NASDAQ:MEOH) last announced its earnings results on Thursday, July 28th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.09. Methanex Corp. had a net margin of 3.22% and a return on equity of 2.10%. The firm had revenue of $468 million for the quarter, compared to analyst estimates of $422.82 million. During the same period in the previous year, the company earned $0.56 EPS. Methanex Corp.’s revenue was down 26.6% compared to the same quarter last year. On average, equities research analysts predict that Methanex Corp. will post ($0.79) earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.81%. Methanex Corp.’s payout ratio is currently 305.56%.
Large investors have recently bought and sold shares of the stock. Mraz Amerine & Associates Inc. raised its stake in Methanex Corp. by 272.0% in the second quarter. Mraz Amerine & Associates Inc. now owns 9,300 shares of the company’s stock worth $271,000 after buying an additional 6,800 shares during the period. CIBC World Markets Inc. raised its stake in Methanex Corp. by 10.0% in the second quarter. CIBC World Markets Inc. now owns 31,362 shares of the company’s stock worth $913,000 after buying an additional 2,853 shares during the period. First Manhattan Co. raised its stake in Methanex Corp. by 1.5% in the second quarter. First Manhattan Co. now owns 37,445 shares of the company’s stock worth $1,089,000 after buying an additional 550 shares during the period. BNP Paribas Arbitrage SA raised its stake in Methanex Corp. by 56.3% in the second quarter. BNP Paribas Arbitrage SA now owns 9,165 shares of the company’s stock worth $380,000 after buying an additional 3,300 shares during the period. Finally, Barclays PLC raised its stake in Methanex Corp. by 73.3% in the first quarter. Barclays PLC now owns 62,863 shares of the company’s stock worth $2,011,000 after buying an additional 26,581 shares during the period. Institutional investors and hedge funds own 87.05% of the company’s stock.
Methanex Corp. Company Profile
Methanex Corporation is a producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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