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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, June 14th will be paid 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 of this dividend is Friday, June 14th.

Methanex has increased its dividend by an average of 15.6% per year over the last three years and has increased its dividend every year for the last 3 years. Methanex has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 0.1 %

Shares of MEOH stock opened at $47.77 on Friday. The stock’s 50-day simple moving average is $45.53 and its 200-day simple moving average is $44.71. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 1.14. The firm has a market capitalization of $3.22 billion, a PE ratio of 20.24 and a beta of 1.50. Methanex has a fifty-two week low of $38.18 and a fifty-two week high of $51.42.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates 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%. Equities analysts expect that Methanex will post 2.35 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MEOH. CIBC increased their price objective on Methanex from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 target price on shares of Methanex in a research note on Wednesday, April 3rd. Piper Sandler restated a “neutral” rating and issued a $50.00 target price on shares of Methanex in a research note on Thursday, March 7th. UBS Group upped their target price on Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday. Finally, Barclays increased their price target on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $53.75.

Methanex Company Profile

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.