Methanex Corp. (MEOH) Stock Price Down 2.3%
Shares of Methanex Corp. (NASDAQ:MEOH) traded down 2.3% during trading on Friday . The stock traded as low as $28.27 and last traded at $28.34, with a volume of 677,592 shares changing hands. The stock had previously closed at $29.02.
A number of brokerages have issued reports on MEOH. Royal Bank Of Canada reissued a “sector perform” rating and issued a $48.00 target price (up previously from $43.00) on shares of Methanex Corp. in a research report on Sunday, May 1st. Jefferies Group reissued a “buy” rating on shares of Methanex Corp. in a research report on Tuesday, May 31st. Raymond James Financial Inc. raised Methanex Corp. from an “outperform” rating to a “strong-buy” rating in a research report on Tuesday, May 17th. Zacks Investment Research raised Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Citigroup Inc. reissued a “hold” rating and issued a $31.00 target price (down previously from $35.00) on shares of Methanex Corp. in a research report on Friday, July 15th. Four equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $42.45.
The stock has a market capitalization of $2.54 billion and a PE ratio of 64.26. The company has a 50-day moving average price of $28.62 and a 200 day moving average price of $30.97.
Methanex Corp. (NASDAQ:MEOH) last announced its earnings results on Thursday, July 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.09. During the same quarter in the prior year, the business posted $0.56 EPS. The company had revenue of $468 million for the quarter, compared to analysts’ expectations of $422.82 million. The business’s revenue was down 26.6% compared to the same quarter last year. Analysts expect 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 given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $1.10 dividend on an annualized basis and a yield of 3.88%.
An institutional investor recently raised its position in Methanex Corp. stock. Dimensional Fund Advisors LP boosted its position in Methanex Corp. (NASDAQ:MEOH) by 12.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,650 shares of the company’s stock after buying an additional 15,028 shares during the period. Dimensional Fund Advisors LP owned 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.