Methanex (TSE:MX) Receives “Hold” Rating from Tudor Pickering & Holt

Tudor Pickering & Holt reissued their hold rating on shares of Methanex (TSE:MX) (NASDAQ:MEOH) in a report released on Wednesday morning, BayStreet.CA reports.

Separately, BMO Capital Markets lowered their price target on Methanex from C$70.00 to C$65.00 and set an outperform rating for the company in a research report on Tuesday, July 2nd.

Shares of TSE:MX opened at C$48.09 on Wednesday. The company has a market cap of $3.65 billion and a P/E ratio of 10.32. The company has a quick ratio of 0.65, a current ratio of 1.04 and a debt-to-equity ratio of 119.50. Methanex has a 52 week low of C$40.11 and a 52 week high of C$100.94. The business has a fifty day simple moving average of C$45.38 and a 200-day simple moving average of C$57.84.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Wednesday, July 31st. The company reported C$0.45 EPS for the quarter, missing the Zacks’ consensus estimate of C$0.65 by C($0.20). The firm had revenue of C$982.35 million during the quarter, compared to analyst estimates of C$973.33 million. Sell-side analysts expect that Methanex will post 6.6500003 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.471 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date was Friday, September 13th. Methanex’s dividend payout ratio (DPR) is presently 28.97%.

In other news, Director Mark Allard purchased 2,000 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of C$43.65 per share, with a total value of C$87,300.00. Following the completion of the transaction, the director now owns 9,081 shares in the company, valued at C$396,385.65. Also, Director John Floren purchased 20,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of C$44.00 per share, with a total value of C$880,000.00. Following the transaction, the director now owns 79,733 shares of the company’s stock, valued at approximately C$3,508,252.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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