Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been given a consensus rating of “Hold” by the eighteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $56.69.
A number of equities research analysts have recently commented on the company. BidaskClub cut Methanex from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Cowen reissued an “outperform” rating and issued a $69.00 target price (up from $65.00) on shares of Methanex in a research note on Wednesday, January 10th. CIBC cut Methanex from an “outperform” rating to a “neutral” rating in a research note on Tuesday, January 9th. Alembic Global Advisors reissued a “buy” rating on shares of Methanex in a research note on Monday, January 8th. Finally, TD Securities cut Methanex from a “buy” rating to a “hold” rating and set a $66.00 target price on the stock. in a research note on Monday, January 8th. They noted that the move was a valuation call.
Several institutional investors have recently added to or reduced their stakes in MEOH. JPMorgan Chase & Co. boosted its position in shares of Methanex by 3,077.5% during the second quarter. JPMorgan Chase & Co. now owns 97,072 shares of the specialty chemicals company’s stock valued at $4,277,000 after buying an additional 94,017 shares during the last quarter. AXA purchased a new stake in shares of Methanex during the second quarter valued at $889,000. Alliancebernstein L.P. purchased a new stake in shares of Methanex during the second quarter valued at $759,000. Ameriprise Financial Inc. boosted its position in shares of Methanex by 29.3% during the second quarter. Ameriprise Financial Inc. now owns 405,236 shares of the specialty chemicals company’s stock valued at $17,852,000 after buying an additional 91,829 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Methanex by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after buying an additional 259 shares during the last quarter. 83.12% of the stock is currently owned by institutional investors.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The firm had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $614.19 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 41.2% on a year-over-year basis. equities research analysts anticipate that Methanex will post 3.89 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 31st. Investors of record on Sunday, December 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.03%. Methanex’s dividend payout ratio (DPR) is presently 39.87%.
Methanex 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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