Methanex (MEOH) Trading Down 5.3%

Methanex Co. (NASDAQ:MEOH) (TSE:MX) shares traded down 5.3% during mid-day trading on Thursday . The stock traded as low as $54.90 and last traded at $54.90. 963,939 shares were traded during mid-day trading, an increase of 25% from the average session volume of 771,213 shares. The stock had previously closed at $57.95.

Several research analysts have recently issued reports on the stock. Jefferies Group upped their target price on shares of Methanex to $72.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. TD Securities cut shares of Methanex from a “buy” rating to a “hold” rating and set a $66.00 target price for the company. in a report on Monday, January 8th. They noted that the move was a valuation call. Monness Crespi & Hardt restated a “buy” rating and issued a $72.00 target price (up previously from $65.00) on shares of Methanex in a report on Friday, February 2nd. BidaskClub cut shares of Methanex from a “buy” rating to a “hold” rating in a report on Monday, January 15th. Finally, ValuEngine cut shares of Methanex from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Methanex has an average rating of “Hold” and a consensus price target of $59.00.

The stock has a market capitalization of $4,640.00, a P/E ratio of 15.21, a price-to-earnings-growth ratio of 0.75 and a beta of 1.72. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 0.83.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.51. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $796.57 million. Methanex had a net margin of 10.34% and a return on equity of 22.72%. Methanex’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.46 EPS. equities analysts predict that Methanex Co. will post 5.33 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Investors of record on Saturday, March 17th will be paid a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $1.32 dividend on an annualized basis and a yield of 2.40%. This is a boost from Methanex’s previous quarterly dividend of $0.30. Methanex’s dividend payout ratio is currently 33.24%.

Large investors have recently modified their holdings of the stock. ETRADE Capital Management LLC acquired a new stake in Methanex during the 3rd quarter worth $241,000. FineMark National Bank & Trust acquired a new stake in Methanex during the 4th quarter worth $253,000. AHL Partners LLP acquired a new stake in Methanex during the 2nd quarter worth $300,000. FNY Partners Fund LP acquired a new stake in Methanex during the 4th quarter worth $302,000. Finally, PNC Financial Services Group Inc. boosted its stake in Methanex by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares during the period. Hedge funds and other institutional investors own 84.74% of the company’s stock.

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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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