Methanex Corp. (MEOH) Shares Down 2.3%
Methanex Corp. (NASDAQ:MEOH)’s share price was down 2.3% during trading on Friday . The company traded as low as $28.27 and last traded at $28.34, with a volume of 677,592 shares traded. The stock had previously closed at $29.02.
A number of equities analysts have commented on MEOH shares. Jefferies Group reaffirmed a “buy” rating on shares of Methanex Corp. in a report on Tuesday, May 31st. TD Securities raised shares of Methanex Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th. Zacks Investment Research raised shares of Methanex Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Citigroup Inc. reissued a “hold” rating and set a $31.00 price target (down previously from $35.00) on shares of Methanex Corp. in a report on Friday, July 15th. Finally, CIBC raised shares of Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 price target for the company in a report on Tuesday, July 5th. Four research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $42.45.
The firm has a market cap of $2.54 billion and a PE ratio of 64.26. The company has a 50 day moving average of $28.62 and a 200 day moving average of $30.97.
Methanex Corp. (NASDAQ:MEOH) last issued its earnings results on Thursday, July 28th. The company reported ($0.34) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.09. During the same period last year, the firm earned $0.56 EPS. The company earned $468 million during the quarter, compared to analyst estimates of $422.82 million. The company’s quarterly revenue was down 26.6% compared to the same quarter last year. On average, equities analysts anticipate that Methanex Corp. will post ($0.78) EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.88%.
An institutional investor recently raised its position in Methanex Corp. stock. Dimensional Fund Advisors LP boosted its position in shares of Methanex Corp. (NASDAQ:MEOH) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,650 shares of the company’s stock after buying an additional 15,028 shares during the period. Dimensional Fund Advisors LP owned approximately 0.15% of Methanex Corp. worth $4,478,000 at the end of the most recent reporting period.
Methanex Corporation is a 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, and 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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