Methanex Corporation (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Thursday, November 16th, Wall Street Journal reports. Investors of record on Sunday, December 17th will be given a dividend of 0.30 per share by the specialty chemicals company on Sunday, December 31st. This represents a $1.20 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, December 14th.
Shares of Methanex Corporation (NASDAQ:MEOH) opened at $50.10 on Friday. The stock has a market cap of $4,146.44, a P/E ratio of 15.02, a P/E/G ratio of 0.92 and a beta of 1.80. Methanex Corporation has a fifty-two week low of $37.05 and a fifty-two week high of $53.35. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.83.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Methanex Corporation had a return on equity of 16.02% and a net margin of 9.81%. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $614.19 million. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. analysts predict that Methanex Corporation will post 3.59 earnings per share for the current fiscal year.
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MEOH has been the subject of a number of research reports. Cowen and Company set a $60.00 target price on Methanex Corporation and gave the company a “buy” rating in a research report on Friday, July 28th. Monness Crespi & Hardt lowered their target price on Methanex Corporation from $62.00 to $59.00 and set a “buy” rating for the company in a research report on Friday, July 28th. Alembic Global Advisors set a $65.00 target price on Methanex Corporation and gave the company a “buy” rating in a research report on Thursday, July 27th. TD Securities lowered their target price on Methanex Corporation from $56.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, July 28th. Finally, Jefferies Group LLC increased their target price on Methanex Corporation to $60.00 and gave the company a “buy” rating in a research report on Tuesday, September 12th. Three analysts have rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $54.17.
Methanex Corporation declared that its board has authorized a stock buyback program on Wednesday, July 26th that allows the company to repurchase 1,660,000 shares. This repurchase authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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