Methanex Co. (NASDAQ:MEOH) Declares $0.04 Quarterly Dividend

Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Monday, May 3rd, Wall Street Journal reports. Shareholders of record on Wednesday, June 16th will be given a dividend of 0.0375 per share by the specialty chemicals company on Wednesday, June 30th. This represents a $0.15 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Tuesday, June 15th.

Methanex has decreased its dividend payment by 59.8% over the last three years and has raised its dividend every year for the last 1 years.

NASDAQ:MEOH opened at $37.83 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 1.61 and a debt-to-equity ratio of 1.55. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of -22.65 and a beta of 2.20. The stock has a 50-day moving average price of $37.90 and a two-hundred day moving average price of $38.60. Methanex has a 1 year low of $12.65 and a 1 year high of $49.27.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Tuesday, April 27th. The specialty chemicals company reported $1.07 earnings per share for the quarter, hitting the consensus estimate of $1.07. Methanex had a negative return on equity of 7.82% and a negative net margin of 4.84%. The company had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $802.13 million. During the same period in the prior year, the firm earned $0.10 earnings per share. Methanex’s revenue for the quarter was up 36.4% compared to the same quarter last year. Sell-side analysts forecast that Methanex will post -1.69 earnings per share for the current year.

Several research analysts recently issued reports on MEOH shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Methanex from a “neutral” rating to a “buy” rating and raised their target price for the stock from $33.00 to $55.00 in a research report on Wednesday, January 6th. TheStreet raised shares of Methanex from a “d+” rating to a “c-” rating in a report on Monday, April 5th. Zacks Investment Research downgraded shares of Methanex from a “hold” rating to a “sell” rating and set a $36.00 price target for the company. in a research note on Wednesday, January 27th. Raymond James set a $50.00 target price on Methanex and gave the stock an “outperform” rating in a research report on Thursday, April 29th. Finally, Royal Bank of Canada decreased their target price on Methanex from $50.00 to $45.00 and set a “sector perform” rating for the company in a research note on Friday, January 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $43.46.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Dividend History for Methanex (NASDAQ:MEOH)

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