Methanex Corp. (MEOH) Given Average Recommendation of “Buy” by Brokerages
Methanex Corp. (NASDAQ:MEOH) has been given a consensus recommendation of “Buy” by the eleven analysts that are covering the company. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $38.79.
Several research analysts recently weighed in on the company. Raymond James Financial Inc. cut Methanex Corp. from a “strong-buy” rating to an “outperform” rating and raised their target price for the company from $37.00 to $40.00 in a research note on Monday, October 3rd. BMO Capital Markets increased their price target on Methanex Corp. from $36.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, September 29th. Jefferies Group reiterated a “buy” rating and issued a $41.00 price target on shares of Methanex Corp. in a research report on Wednesday, June 15th. Scotiabank reiterated an “outperform” rating and issued a $35.00 price target on shares of Methanex Corp. in a research report on Wednesday, August 31st. Finally, Zacks Investment Research upgraded Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th.
Several large investors have recently bought and sold shares of MEOH. Quantbot Technologies LP purchased a new stake in Methanex Corp. during the second quarter worth $109,000. Polaris Capital Management LLC increased its stake in Methanex Corp. by 19.7% in the second quarter. Polaris Capital Management LLC now owns 4,250 shares of the company’s stock worth $124,000 after buying an additional 700 shares during the period. First Interstate Bank increased its stake in Methanex Corp. by 19.2% in the second quarter. First Interstate Bank now owns 5,250 shares of the company’s stock worth $153,000 after buying an additional 845 shares during the period. Citigroup Inc. increased its stake in Methanex Corp. by 104.6% in the second quarter. Citigroup Inc. now owns 6,045 shares of the company’s stock worth $175,000 after buying an additional 137,805 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Methanex Corp. during the second quarter worth $243,000. 87.01% of the stock is owned by institutional investors.
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Shares of Methanex Corp. (NASDAQ:MEOH) traded down 0.25% during mid-day trading on Tuesday, hitting $36.32. The stock had a trading volume of 390,183 shares. The company has a 50-day moving average of $31.53 and a 200 day moving average of $30.97. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 82.36 and a beta of 1.99. Methanex Corp. has a one year low of $22.73 and a one year high of $44.95.
Methanex Corp. (NASDAQ:MEOH) last announced its earnings results on Thursday, July 28th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 the consensus estimate of $422.82 million. During the same period in the prior year, the business earned $0.56 EPS. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. On average, equities research analysts forecast that Methanex Corp. will post ($0.76) earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, September 14th. Methanex Corp.’s dividend payout ratio (DPR) is presently 305.56%.
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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