Methanex Corporation (MEOH) Receiving Somewhat Favorable Media Coverage, Study Shows
News coverage about Methanex Corporation (NASDAQ:MEOH) (TSE:MX) has been trending somewhat positive this week, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Methanex Corporation earned a media sentiment score of 0.18 on Accern’s scale. Accern also assigned media coverage about the specialty chemicals company an impact score of 45.8624123390915 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next few days.
Here are some of the news headlines that may have effected Accern Sentiment’s rankings:
- Methanex Corporation (MEOH) and Eastman Chemical (EMN) Head-To-Head Comparison (americanbankingnews.com)
- Methanex Corporation (MEOH) Upgraded to Sell at BidaskClub (americanbankingnews.com)
- Methanex Corporation (MEOH) Earns Hold Rating from Royal Bank Of Canada (americanbankingnews.com)
- Can Methanex Corp (MEOH) Thread the Needle? Technical Update – Sparta Review (spartareview.com)
- Active Stocks on Watch: Methanex Corp (MEOH) and Silicon Motion Technology Corp (SIMO) – Evergreen Caller (evergreencaller.com)
Shares of Methanex Corporation (NASDAQ MEOH) opened at 46.45 on Tuesday. Methanex Corporation has a one year low of $28.17 and a one year high of $53.35. The firm’s 50-day moving average is $44.84 and its 200-day moving average is $45.22. The company has a market cap of $4.00 billion, a PE ratio of 18.07 and a beta of 1.78.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by $0.23. Methanex Corporation had a return on equity of 12.43% and a net margin of 8.92%. The firm had revenue of $669 million for the quarter, compared to analysts’ expectations of $772.41 million. During the same period last year, the company posted ($0.34) earnings per share. The business’s quarterly revenue was up 42.9% on a year-over-year basis. On average, equities analysts anticipate that Methanex Corporation will post $3.80 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Saturday, September 16th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.58%. The ex-dividend date is Thursday, September 14th. Methanex Corporation’s dividend payout ratio (DPR) is presently 47.81%.
Methanex Corporation declared that its board has initiated a stock buyback plan on Wednesday, July 26th that authorizes the company to buyback 1,660,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
A number of equities analysts have issued reports on the company. BidaskClub upgraded Methanex Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Citigroup Inc. reiterated a “neutral” rating and set a $45.00 price target (down previously from $50.00) on shares of Methanex Corporation in a research note on Thursday, June 1st. Cowen and Company set a $60.00 price target on Methanex Corporation and gave the company a “buy” rating in a research note on Friday, July 28th. BMO Capital Markets reiterated a “buy” rating on shares of Methanex Corporation in a research note on Friday, June 30th. Finally, Royal Bank Of Canada cut their price target on Methanex Corporation from $54.00 to $50.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 18th. Four investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the company’s stock. Methanex Corporation has an average rating of “Hold” and an average price target of $56.80.
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Methanex Corporation Company Profile
Methanex Corp is a Canada-based 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, as well as 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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