Methanex Corporation (NASDAQ:MEOH) Given Buy Rating at BMO Capital Markets

BMO Capital Markets reiterated their buy rating on shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) in a report issued on Friday, June 30th.

A number of other equities analysts have also recently weighed in on the stock. ValuEngine raised shares of Methanex Corporation from a hold rating to a buy rating in a research report on Friday, June 16th. BidaskClub raised shares of Methanex Corporation from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Citigroup Inc. reaffirmed a neutral rating and set a $45.00 price objective (down previously from $50.00) on shares of Methanex Corporation in a research report on Thursday, June 1st. Zacks Investment Research cut shares of Methanex Corporation from a strong-buy rating to a hold rating in a research report on Tuesday, May 23rd. Finally, Jefferies Group LLC reaffirmed a buy rating and set a $60.00 price objective on shares of Methanex Corporation in a research report on Monday, May 15th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $54.92.

Shares of Methanex Corporation (NASDAQ MEOH) opened at 46.55 on Friday. The stock’s 50 day moving average is $42.75 and its 200 day moving average is $45.69. The company has a market cap of $4.11 billion, a P/E ratio of 29.37 and a beta of 1.78. Methanex Corporation has a 1-year low of $26.83 and a 1-year high of $53.35.

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, April 26th. The specialty chemicals company reported $1.56 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.18. The firm had revenue of $810 million during the quarter, compared to analysts’ expectations of $833.32 million. Methanex Corporation had a net margin of 6.01% and a return on equity of 7.04%. The firm’s quarterly revenue was up 86.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.27) EPS. On average, analysts predict that Methanex Corporation will post $4.28 earnings per share for the current year.

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The company also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.58%. This is a positive change from Methanex Corporation’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, June 14th. Methanex Corporation’s dividend payout ratio (DPR) is presently 75.47%.

Several large investors have recently made changes to their positions in MEOH. Tower Research Capital LLC TRC raised its stake in shares of Methanex Corporation by 149.9% in the first quarter. Tower Research Capital LLC TRC now owns 6,726 shares of the specialty chemicals company’s stock worth $315,000 after buying an additional 4,034 shares during the last quarter. Comerica Bank purchased a new stake in shares of Methanex Corporation during the fourth quarter worth $269,000. Jane Street Group LLC raised its stake in shares of Methanex Corporation by 73.2% in the first quarter. Jane Street Group LLC now owns 17,129 shares of the specialty chemicals company’s stock worth $803,000 after buying an additional 7,237 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Methanex Corporation by 2.8% in the first quarter. Massachusetts Financial Services Co. MA now owns 504,628 shares of the specialty chemicals company’s stock worth $23,667,000 after buying an additional 13,877 shares during the last quarter. Finally, FMR LLC raised its stake in shares of Methanex Corporation by 1,228.6% in the fourth quarter. FMR LLC now owns 2,566,902 shares of the specialty chemicals company’s stock worth $112,587,000 after buying an additional 2,373,698 shares during the last quarter. Institutional investors and hedge funds own 82.06% of the company’s stock.

About Methanex Corporation

Methanex Corp is a Canada-based 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, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Analyst Recommendations for Methanex Corporation (NASDAQ:MEOH)

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