Methanex Corporation (NASDAQ:MEOH) Announces $0.19 Quarterly Dividend

by · The Markets Daily

Methanex Corporation (NASDAQ:MEOH – Get Free Report) (TSE:MX) announced a quarterly dividend on Thursday, January 29th. Stockholders of record on Tuesday, March 17th will be paid a dividend of 0.185 per share by the specialty chemicals company on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Tuesday, March 17th.

Methanex has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 4 years. Methanex has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Methanex to earn $4.85 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 15.3%.

Methanex Stock Down 3.0%

Shares of MEOH stock traded down $1.49 during trading hours on Friday, reaching $47.46. The company had a trading volume of 266,393 shares, compared to its average volume of 580,787. The company has a market capitalization of $3.67 billion, a P/E ratio of 16.06 and a beta of 0.73. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09. Methanex has a twelve month low of $25.46 and a twelve month high of $54.49. The stock’s fifty day simple moving average is $41.47 and its 200 day simple moving average is $37.91.

Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) last released its quarterly earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.45). The company had revenue of $924.87 million during the quarter, compared to analysts’ expectations of $977.82 million. Methanex had a return on equity of 9.07% and a net margin of 5.97%.The firm’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.21 EPS. As a group, sell-side analysts expect that Methanex will post 4.32 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. raised shares of Methanex from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $33.00 to $38.00 in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Methanex in a research report on Monday, December 29th. CIBC reissued an “outperform” rating on shares of Methanex in a research report on Monday, November 17th. Royal Bank Of Canada set a $50.00 price target on shares of Methanex and gave the company an “outperform” rating in a report on Monday, January 5th. Finally, Raymond James Financial downgraded shares of Methanex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Methanex has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

View Our Latest Stock Report on MEOH

Methanex Company Profile

(Get Free Report)

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).

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