Methanex Corp. (MEOH) Shares Up 2.4%
Methanex Corp. (NASDAQ:MEOH)’s share price shot up 2.4% during mid-day trading on Thursday . The stock traded as high as $29.74 and last traded at $29.71, with a volume of 268,758 shares trading hands. The stock had previously closed at $29.00.
Several research firms recently issued reports on MEOH. Jefferies Group reaffirmed a “buy” rating on shares of Methanex Corp. in a research report on Tuesday, May 31st. Zacks Investment Research cut Methanex Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $48.50 price objective on shares of Methanex Corp. in a research report on Monday, June 6th. Citigroup Inc. reaffirmed a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Methanex Corp. in a research report on Friday, July 15th. Finally, Cowen and Company lowered their price objective on Methanex Corp. from $43.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, August 4th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Methanex Corp. currently has a consensus rating of “Buy” and a consensus target price of $40.95.
The company has a market capitalization of $2.84 billion and a price-to-earnings ratio of 71.70. The company has a 50 day moving average price of $28.72 and a 200-day moving average price of $31.07.
Methanex Corp. (NASDAQ:MEOH) last posted its earnings results on Thursday, July 28th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.09. During the same quarter last year, the business earned $0.56 earnings per share. The company had revenue of $468 million for the quarter, compared to analysts’ expectations of $422.82 million. Methanex Corp.’s revenue was down 26.6% on a year-over-year basis. Equities analysts forecast that Methanex Corp. will post ($0.79) EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Wednesday, September 14th.
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.