Methanex Corp. (MEOH) to Issue $0.28 Quarterly Dividend
Methanex Corp. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Friday, November 18th. Shareholders of record on Saturday, December 17th will be paid a dividend of 0.275 per share on Saturday, December 31st. This represents a $1.10 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Wednesday, December 14th.
Shares of Methanex Corp. (NASDAQ:MEOH) traded up 0.53% on Friday, reaching $37.95. The company’s stock had a trading volume of 455,687 shares. The stock has a 50-day moving average price of $36.84 and a 200-day moving average price of $31.84. The company’s market capitalization is $3.41 billion. Methanex Corp. has a 1-year low of $22.73 and a 1-year high of $41.49.
Methanex Corp. (NASDAQ:MEOH) last issued its quarterly earnings results on Wednesday, October 26th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.20. The company had revenue of $2.48 million for the quarter, compared to the consensus estimate of $2.09 million. Methanex Corp. had a negative return on equity of 2.57% and a negative net margin of 1.45%. The firm’s revenue was down 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.26 earnings per share. On average, equities research analysts forecast that Methanex Corp. will post ($0.58) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parametric Portfolio Associates LLC boosted its position in shares of Methanex Corp. by 11.0% in the second quarter. Parametric Portfolio Associates LLC now owns 18,385 shares of the company’s stock worth $535,000 after buying an additional 1,818 shares in the last quarter. Raymond James & Associates boosted its position in Methanex Corp. by 2.3% in the second quarter. Raymond James & Associates now owns 127,481 shares of the company’s stock worth $3,710,000 after buying an additional 2,823 shares during the period. Hsbc Holdings PLC purchased a new position in Methanex Corp. during the third quarter worth about $251,000. US Bancorp DE boosted its position in Methanex Corp. by 25.9% in the second quarter. US Bancorp DE now owns 35,223 shares of the company’s stock worth $1,025,000 after buying an additional 7,251 shares during the period. Finally, Trexquant Investment LP purchased a new position in Methanex Corp. during the second quarter worth about $288,000. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Several brokerages have recently issued reports on MEOH. Cowen and Company lowered their price target on Methanex Corp. from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. RBC Capital Markets reiterated a “sector perform” rating and issued a $54.50 target price (up previously from $46.50) on shares of Methanex Corp. in a research note on Thursday, October 27th. Zacks Investment Research upgraded shares of Methanex Corp. from a “strong sell” rating to a “hold” rating in a research note on Friday, October 21st. Jefferies Group reiterated a “buy” rating and issued a $41.00 target price on shares of Methanex Corp. in a research note on Thursday, October 20th. Finally, TD Securities cut shares of Methanex Corp. from a “buy” rating to a “hold” rating and increased their target price for the company from $39.00 to $40.00 in a research note on Friday, October 28th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $40.70.
Methanex Corp. Company Profile
Methanex Corporation is a 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, and 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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