Dean Richardson Buys 1,500 Shares of Methanex Co. (TSE:MX) Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director Dean Richardson bought 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of C$50.52 per share, for a total transaction of C$75,780.00.

Methanex Trading Up 1.0 %

Shares of MX opened at C$51.30 on Friday. Methanex Co. has a 1-year low of C$49.21 and a 1-year high of C$74.25. The company has a market capitalization of C$3.46 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.44 and a beta of 1.82. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59. The firm’s 50 day simple moving average is C$62.22 and its 200 day simple moving average is C$64.51.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its quarterly earnings data on Tuesday, July 30th. The company reported C$0.85 earnings per share for the quarter, beating the consensus estimate of C$0.66 by C$0.19. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The firm had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.35 billion. Sell-side analysts forecast that Methanex Co. will post 3.7762448 earnings per share for the current fiscal year.

Methanex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.253 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $1.01 annualized dividend and a yield of 1.97%. This is a positive change from Methanex’s previous quarterly dividend of $0.25. Methanex’s payout ratio is 35.07%.

Wall Street Analyst Weigh In

MX has been the topic of several research analyst reports. Barclays cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Piper Sandler upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

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.