Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Stockholders of record on Monday, September 16th will be given a dividend of 0.36 per share by the specialty chemicals company on Monday, September 30th. This represents a $1.44 annualized dividend and a dividend yield of 3.96%. The ex-dividend date is Friday, September 13th.

Methanex has raised its dividend payment by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 8 years. Methanex has a payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Analysts expect Methanex to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.0%.

NASDAQ:MEOH traded down $0.35 during mid-day trading on Wednesday, hitting $36.33. 180,379 shares of the company’s stock were exchanged, compared to its average volume of 375,108. The company has a 50 day simple moving average of $34.29 and a 200-day simple moving average of $46.84. The company has a current ratio of 1.04, a quick ratio of 0.71 and a debt-to-equity ratio of 0.92. Methanex has a fifty-two week low of $30.25 and a fifty-two week high of $83.23. The firm has a market capitalization of $2.67 billion, a P/E ratio of 5.30, a PEG ratio of 2.29 and a beta of 1.74.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.16). The business had revenue of $734.00 million during the quarter, compared to analyst estimates of $719.86 million. Methanex had a net margin of 10.81% and a return on equity of 18.33%. The company’s revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 earnings per share. As a group, analysts expect that Methanex will post 1.02 earnings per share for the current year.

Several analysts recently weighed in on MEOH shares. TD Securities reduced their price objective on shares of Methanex from $58.00 to $52.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. TheStreet downgraded Methanex from a “b-” rating to a “c+” rating in a report on Friday, August 16th. Cowen reiterated a “market perform” rating and issued a $39.00 price target (down previously from $49.00) on shares of Methanex in a research report on Tuesday, August 6th. Jefferies Financial Group decreased their price target on Methanex from $40.00 to $34.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Finally, Raymond James set a $62.00 price objective on Methanex and gave the stock an “outperform” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Methanex currently has an average rating of “Hold” and a consensus target price of $56.63.

About Methanex

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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Dividend History for Methanex (NASDAQ:MEOH)

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