Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Monday, July 23rd, Wall Street Journal reports. Stockholders of record on Sunday, September 16th will be given a dividend of 0.33 per share by the specialty chemicals company on Sunday, September 30th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, September 13th.
Methanex has increased its dividend by an average of 7.3% per year over the last three years and has increased its dividend every year for the last 7 years. Methanex has a payout ratio of 20.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Methanex to earn $6.29 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 21.0%.
NASDAQ:MEOH opened at $72.20 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $5.69 billion, a PE ratio of 15.33, a PEG ratio of 0.74 and a beta of 1.60. Methanex has a 1-year low of $48.55 and a 1-year high of $77.10.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $1.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.75. The business had revenue of $950.00 million during the quarter, compared to analyst estimates of $872.10 million. Methanex had a net margin of 10.90% and a return on equity of 28.64%. The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.85 earnings per share. research analysts anticipate that Methanex will post 6.44 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on MEOH. TD Securities boosted their price objective on shares of Methanex from $71.00 to $76.00 and gave the company a “hold” rating in a research report on Wednesday, July 11th. BidaskClub lowered shares of Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday. Monness Crespi & Hardt upped their price target on shares of Methanex from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Friday, July 27th. ValuEngine lowered shares of Methanex from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Zacks Investment Research raised shares of Methanex from a “hold” rating to a “strong-buy” rating and set a $82.00 price target for the company in a research report on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Methanex presently has a consensus rating of “Buy” and a consensus price target of $73.14.
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells 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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