Methanex Co. (NASDAQ:MEOH) (TSE:MX) has earned a consensus rating of “Hold” from the nineteen ratings firms that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $49.08.
Several analysts have commented on the company. Barclays dropped their price objective on Methanex from $53.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, September 9th. Alembic Global Advisors set a $55.00 price objective on Methanex and gave the company a “hold” rating in a report on Monday, August 26th. Royal Bank of Canada raised Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Wednesday, October 2nd. Cowen reaffirmed a “market perform” rating and issued a $39.00 price target (down from $49.00) on shares of Methanex in a research note on Tuesday, August 6th. Finally, Jefferies Financial Group lifted their price target on Methanex from $34.00 to $38.00 and gave the stock a “hold” rating in a research note on Tuesday, September 17th.
Several large investors have recently modified their holdings of MEOH. Becker Capital Management Inc. lifted its position in Methanex by 55.1% during the second quarter. Becker Capital Management Inc. now owns 471,357 shares of the specialty chemicals company’s stock worth $21,428,000 after buying an additional 167,418 shares in the last quarter. Capital Fund Management S.A. lifted its position in Methanex by 1,446.7% during the second quarter. Capital Fund Management S.A. now owns 114,086 shares of the specialty chemicals company’s stock worth $5,186,000 after buying an additional 106,710 shares in the last quarter. Virtus ETF Advisers LLC purchased a new position in Methanex during the second quarter worth approximately $1,949,000. Vanguard Group Inc. lifted its position in Methanex by 1.7% during the second quarter. Vanguard Group Inc. now owns 2,245,124 shares of the specialty chemicals company’s stock worth $102,064,000 after buying an additional 37,368 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Methanex by 241.8% during the second quarter. JPMorgan Chase & Co. now owns 637,874 shares of the specialty chemicals company’s stock worth $28,704,000 after buying an additional 451,239 shares in the last quarter. 64.93% of the stock is currently owned by hedge funds and other institutional investors.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, July 31st. The specialty chemicals company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.16). Methanex had a net margin of 10.81% and a return on equity of 18.33%. The business had revenue of $734.00 million during the quarter, compared to analyst estimates of $719.86 million. During the same period in the previous year, the business posted $1.75 earnings per share. The firm’s revenue for the quarter was down 22.7% on a year-over-year basis. As a group, equities research analysts forecast that Methanex will post 1.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date was Friday, September 13th. Methanex’s dividend payout ratio is presently 20.99%.
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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