Methanex (NASDAQ:MEOH) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Methanex Corporation (NASDAQ:MEOH) (TSE:MX)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $49.74 and traded as high as $60.56. Methanex shares last traded at $59.83, with a volume of 524,377 shares changing hands.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Methanex from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $56.00 to $65.00 in a report on Friday, May 1st. Zacks Research upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Scotiabank lifted their price target on Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Royal Bank Of Canada lifted their price target on Methanex from $65.00 to $70.00 and gave the company a “sector perform” rating in a report on Friday, May 1st. Finally, BMO Capital Markets lifted their price target on Methanex from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.78.

Methanex Price Performance

The stock has a 50 day moving average of $60.15 and a two-hundred day moving average of $49.74. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96. The firm has a market capitalization of $4.63 billion, a P/E ratio of -122.10 and a beta of 0.60.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The company had revenue of $957.42 million during the quarter, compared to the consensus estimate of $964.76 million. During the same period in the previous year, the business posted $1.30 earnings per share. The firm’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts predict that Methanex Corporation will post 6.36 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 16th. Methanex’s payout ratio is currently -151.02%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MEOH. NewEdge Advisors LLC bought a new position in Methanex in the 2nd quarter worth approximately $50,000. Clearstead Advisors LLC increased its position in Methanex by 336.2% in the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock worth $71,000 after buying an additional 1,375 shares during the period. Parkside Financial Bank & Trust increased its position in Methanex by 61.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock worth $85,000 after buying an additional 812 shares during the period. PNC Financial Services Group Inc. increased its position in Methanex by 131.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock worth $99,000 after buying an additional 1,410 shares during the period. Finally, AXA S.A. bought a new stake in shares of Methanex during the second quarter valued at approximately $166,000. 73.49% of the stock is owned by institutional investors.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).