Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Hold” by the eighteen brokerages that are covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $58.77.
A number of equities analysts have recently weighed in on MEOH shares. Scotiabank set a $53.50 price objective on shares of Methanex and gave the company a “sector perform” rating in a research report on Thursday, October 26th. Cowen reissued an “outperform” rating and issued a $65.00 price objective (up previously from $58.00) on shares of Methanex in a research report on Thursday, December 14th. Royal Bank of Canada boosted their price objective on shares of Methanex from $63.00 to $67.00 and gave the company a “sector perform” rating in a research report on Friday, February 2nd. Raymond James Financial lowered shares of Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price objective for the company. in a research report on Tuesday, October 31st. Finally, BidaskClub raised shares of Methanex from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd.
A number of hedge funds have recently modified their holdings of MEOH. Alliancebernstein L.P. acquired a new position in Methanex during the second quarter worth approximately $759,000. PNC Financial Services Group Inc. increased its position in Methanex by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares during the last quarter. Vanguard Group Inc. increased its position in Methanex by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock worth $91,090,000 after purchasing an additional 76,132 shares during the last quarter. AHL Partners LLP acquired a new position in Methanex during the second quarter worth approximately $300,000. Finally, Bank of Nova Scotia increased its position in Methanex by 43.0% during the second quarter. Bank of Nova Scotia now owns 84,145 shares of the specialty chemicals company’s stock worth $3,715,000 after purchasing an additional 25,292 shares during the last quarter. 84.72% of the stock is owned by hedge funds and other institutional investors.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $1.70 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.51. The business had revenue of $861.00 million during the quarter, compared to analyst estimates of $796.57 million. Methanex had a net margin of 10.34% and a return on equity of 22.72%. The company’s revenue was up 47.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.46 earnings per share. analysts forecast that Methanex will post 5.33 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Investors of record on Saturday, March 17th will be given a dividend of $0.33 per share. This is a positive change from Methanex’s previous quarterly dividend of $0.30. The ex-dividend date is Thursday, March 15th. This represents a $1.32 annualized dividend and a yield of 2.33%. Methanex’s dividend payout ratio is 33.24%.
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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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