Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, July 16th, Zacks reports. Investors of record on Wednesday, September 16th will be given a dividend of 0.038 per share by the specialty chemicals company on Wednesday, September 30th. This represents a $0.15 annualized dividend and a yield of 0.66%. The ex-dividend date of this dividend is Tuesday, September 15th. This is a boost from Methanex’s previous quarterly dividend of $0.04.
Methanex has raised its dividend payment by 28.2% over the last three years and has raised its dividend annually for the last 1 consecutive years. Methanex has a payout ratio of -7.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Methanex to earn ($0.60) per share next year, which means the company may not be able to cover its $0.15 annual dividend with an expected future payout ratio of -25.0%.
NASDAQ MEOH traded up $0.26 on Friday, hitting $23.05. The company’s stock had a trading volume of 329,332 shares, compared to its average volume of 282,134. The company’s 50-day simple moving average is $21.05 and its 200 day simple moving average is $18.62. The firm has a market cap of $1.76 billion, a P/E ratio of -31.57 and a beta of 2.31. The company has a current ratio of 2.12, a quick ratio of 1.70 and a debt-to-equity ratio of 1.73. Methanex has a 52-week low of $9.00 and a 52-week high of $42.19.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, July 29th. The specialty chemicals company reported ($0.84) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.04) by $0.20. The business had revenue of $512.00 million during the quarter, compared to the consensus estimate of $482.39 million. Methanex had a negative net margin of 1.66% and a negative return on equity of 4.07%. The company’s quarterly revenue was down 39.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, research analysts forecast that Methanex will post -2.33 EPS for the current fiscal year.
A number of brokerages recently commented on MEOH. TD Securities boosted their target price on shares of Methanex from $16.50 to $21.00 and gave the stock a “hold” rating in a research note on Tuesday, June 30th. Tudor Pickering & Holt set a $17.00 target price on shares of Methanex and gave the stock a “sell” rating in a research note on Tuesday, September 1st. Barclays boosted their target price on shares of Methanex from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 1st. Jefferies Financial Group reiterated a “buy” rating and set a $36.00 target price on shares of Methanex in a research note on Tuesday, August 11th. Finally, BidaskClub upgraded shares of Methanex from a “sell” rating to a “hold” rating in a research note on Wednesday, August 12th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Methanex presently has a consensus rating of “Hold” and a consensus target price of $24.07.
Methanex Company Profile
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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