Methanex Co. (NASDAQ:MEOH) Declares Quarterly Dividend of $0.19

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Friday, June 14th will be given a dividend of 0.185 per share by the specialty chemicals company on Friday, June 28th. This represents a $0.74 annualized dividend and a yield of 1.55%. The ex-dividend date is Friday, June 14th.

Methanex has raised its dividend by an average of 15.6% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Methanex has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Methanex to earn $4.54 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 16.3%.

Methanex Trading Up 0.1 %

Methanex stock opened at $47.77 on Friday. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.84. Methanex has a 12 month low of $38.18 and a 12 month high of $51.42. The stock’s 50 day simple moving average is $45.53 and its two-hundred day simple moving average is $44.71. The firm has a market cap of $3.22 billion, a PE ratio of 20.24 and a beta of 1.50.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. The business had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. Methanex had a return on equity of 5.36% and a net margin of 4.63%. Analysts anticipate that Methanex will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MEOH shares. TheStreet raised shares of Methanex from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 target price on shares of Methanex in a research note on Thursday, March 7th. Raymond James reduced their target price on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 target price on shares of Methanex in a research note on Wednesday, April 3rd. Finally, UBS Group lifted their target price on shares of Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $53.75.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.