Methanex (TSE:MX) Stock Price Passes Above Two Hundred Day Moving Average of $54.20

Shares of Methanex Co. (TSE:MX – Get Rating) (NASDAQ:MEOH) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of C$54.20 and traded as high as C$62.81. Methanex shares last traded at C$61.80, with a volume of 178,580 shares.

Analysts Set New Price Targets

Separately, Royal Bank of Canada raised their price objective on Methanex from C$50.00 to C$55.00 and gave the stock a “sector perform” rating in a report on Wednesday, March 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has an average rating of “Hold” and an average price target of C$49.43.

Methanex Stock Up 1.5 %

The stock has a market cap of C$4.25 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 0.44 and a beta of 2.02. The company has a quick ratio of 1.59, a current ratio of 1.99 and a debt-to-equity ratio of 124.38. The stock has a fifty day moving average of C$64.60 and a two-hundred day moving average of C$54.20.

Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH) last issued its earnings results on Thursday, February 2nd. The company reported C$0.99 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.63 by C$0.36. Methanex had a return on equity of 21.09% and a net margin of 8.21%. The firm had revenue of C$1.34 billion for the quarter, compared to analysts’ expectations of C$1.26 billion. As a group, analysts predict that Methanex Co. will post 4.0234375 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 17th will be paid a dividend of $0.238 per share. This represents a $0.95 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date is Thursday, March 16th. Methanex’s dividend payout ratio is presently 14.73%.

About Methanex

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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.