Methanex Corporation (MEOH) to Distribute Quarterly Dividend of $0.18 on September 30th

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Wednesday, July 15th. Stockholders of record on Wednesday, September 16th will be given a dividend of 0.185 per share by the specialty chemicals company on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 16th.

Methanex has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 4 consecutive years. Methanex has a payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Methanex to earn $6.04 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 12.3%.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $53.18 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.96 and a quick ratio of 1.26. The business has a 50-day moving average of $55.55 and a 200-day moving average of $53.56. The stock has a market capitalization of $4.11 billion, a price-to-earnings ratio of -108.53 and a beta of 0.60. Methanex has a fifty-two week low of $32.00 and a fifty-two week high of $66.75.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.The company had revenue of $957.42 million for the quarter, compared to the consensus estimate of $964.76 million. During the same quarter in the previous year, the company posted $1.30 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts predict that Methanex will post 8.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MEOH has been the topic of a number of analyst reports. Raymond James Financial upped their price objective on Methanex from $52.00 to $65.00 and gave the stock a “market perform” rating in a research note on Thursday, April 16th. National Bank Financial set a $70.00 target price on shares of Methanex and gave the company an “outperform” rating in a research note on Monday. UBS Group boosted their target price on shares of Methanex from $70.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and set a $69.00 price target on shares of Methanex in a research report on Friday, May 1st. Finally, Royal Bank Of Canada decreased their price objective on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 1st. Five research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $68.78.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).