Methanex Corporation Plans Quarterly Dividend of $0.30 (MEOH)
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Friday, July 21st, Wall Street Journal reports. Stockholders of record on Saturday, September 16th will be given a dividend of 0.30 per share by the specialty chemicals company on Saturday, September 30th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, September 14th.
Methanex Corporation (NASDAQ:MEOH) traded down 1.07% during trading on Friday, hitting $46.05. 966,740 shares of the stock traded hands. The company has a market cap of $4.07 billion, a P/E ratio of 29.05 and a beta of 1.78. The firm has a 50-day moving average price of $42.75 and a 200 day moving average price of $45.69. Methanex Corporation has a 52-week low of $26.83 and a 52-week high of $53.35.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, April 26th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.18. The business had revenue of $810 million for the quarter, compared to analysts’ expectations of $833.32 million. Methanex Corporation had a net margin of 6.01% and a return on equity of 7.04%. During the same quarter in the prior year, the business earned ($0.27) EPS. The business’s revenue for the quarter was up 86.2% compared to the same quarter last year. On average, equities analysts expect that Methanex Corporation will post $4.28 EPS for the current year.
Several brokerages have recently weighed in on MEOH. Monness Crespi & Hardt upgraded shares of Methanex Corporation from a “neutral” rating to a “buy” rating and set a $67.00 price objective on the stock in a research note on Monday, April 17th. UBS AG reiterated a “sell” rating and issued a $40.00 price objective (up previously from $39.00) on shares of Methanex Corporation in a research note on Friday, April 28th. Citigroup Inc. reiterated a “neutral” rating and issued a $45.00 price objective (down previously from $50.00) on shares of Methanex Corporation in a research note on Thursday, June 1st. BidaskClub upgraded shares of Methanex Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Zacks Investment Research upgraded shares of Methanex Corporation from a “hold” rating to a “strong-buy” rating and set a $54.00 price objective on the stock in a research note on Wednesday, April 19th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $54.92.
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About Methanex Corporation
Methanex Corp is a Canada-based 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, as well as 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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