Methanex Co. (NASDAQ:MEOH) Announces Quarterly Dividend of $0.15

Methanex Co. (NASDAQ:MEOHGet Rating) (TSE:MX) announced a quarterly dividend on Friday, April 29th, Wall Street Journal reports. Investors of record on Thursday, June 16th will be given a dividend of 0.145 per share by the specialty chemicals company on Thursday, June 30th. This represents a $0.58 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Wednesday, June 15th. This is an increase from Methanex’s previous quarterly dividend of $0.13.

Methanex has decreased its dividend payment by an average of 37.3% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Methanex has a dividend payout ratio of 11.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Methanex to earn $4.11 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 12.2%.

NASDAQ MEOH opened at $50.16 on Friday. The stock has a market cap of $3.67 billion, a P/E ratio of 7.90 and a beta of 1.77. The company’s 50-day simple moving average is $52.82 and its 200 day simple moving average is $47.60. Methanex has a twelve month low of $29.61 and a twelve month high of $56.79. The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 1.10.

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) last released its quarterly earnings results on Wednesday, April 27th. The specialty chemicals company reported $2.16 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.16. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Methanex had a net margin of 10.87% and a return on equity of 29.13%. The company’s revenue for the quarter was up 15.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 earnings per share. Research analysts anticipate that Methanex will post 6 earnings per share for the current year.

MEOH has been the topic of a number of recent analyst reports. TheStreet upgraded shares of Methanex from a “c+” rating to a “b-” rating in a research report on Monday, January 31st. Tudor Pickering & Holt set a $44.00 price target on shares of Methanex and gave the company a “hold” rating in a research report on Wednesday, January 26th. StockNews.com upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research lowered shares of Methanex from a “strong-buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a research report on Friday, December 31st. Finally, Royal Bank of Canada upped their target price on shares of Methanex from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Friday, April 1st. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Methanex has an average rating of “Buy” and an average price target of $52.08.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in Methanex by 3.8% in the fourth quarter. Legal & General Group Plc now owns 65,277 shares of the specialty chemicals company’s stock valued at $2,586,000 after buying an additional 2,377 shares during the period. BNP Paribas Arbitrage SA acquired a new position in Methanex in the third quarter valued at approximately $146,000. Bank of America Corp DE lifted its holdings in Methanex by 20.3% in the second quarter. Bank of America Corp DE now owns 18,890 shares of the specialty chemicals company’s stock valued at $624,000 after buying an additional 3,191 shares during the period. Barclays PLC lifted its holdings in Methanex by 557.3% in the fourth quarter. Barclays PLC now owns 5,298 shares of the specialty chemicals company’s stock valued at $209,000 after buying an additional 4,492 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in Methanex by 5,803.4% in the fourth quarter. JPMorgan Chase & Co. now owns 19,186 shares of the specialty chemicals company’s stock valued at $759,000 after buying an additional 18,861 shares during the period. Institutional investors and hedge funds own 89.21% of the company’s stock.

About Methanex (Get Rating)

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.

See Also

Dividend History for Methanex (NASDAQ:MEOH)

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