Methanex (TSE:MX) Reaches New 12-Month High Following Analyst Upgrade

Shares of Methanex Co. (TSE:MX – Get Rating) (NASDAQ:MEOH) hit a new 52-week high during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from C$50.00 to C$55.00. Royal Bank of Canada currently has a sector perform rating on the stock. Methanex traded as high as C$72.00 and last traded at C$71.66, with a volume of 75897 shares. The stock had previously closed at C$68.83.

Methanex Price Performance

The company has a debt-to-equity ratio of 124.38, a quick ratio of 1.59 and a current ratio of 1.99. The company’s 50 day moving average price is C$60.82 and its 200 day moving average price is C$52.86. The company has a market cap of C$4.92 billion, a price-to-earnings ratio of 10.83, a P/E/G ratio of 0.44 and a beta of 2.07.

Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH) last issued its quarterly earnings results on Thursday, February 2nd. The company reported C$0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.63 by C$0.36. The business had revenue of C$1.34 billion for the quarter, compared to the consensus estimate of C$1.26 billion. Methanex had a net margin of 8.21% and a return on equity of 21.09%. On average, equities research analysts predict that Methanex Co. will post 4.6990155 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be issued a dividend of $0.238 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.95 annualized dividend and a yield of 1.34%. Methanex’s dividend payout ratio is currently 14.29%.

Methanex Company Profile

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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.