Methanex Co. (TSE:MX) Receives C$46.50 Consensus Target Price from Analysts

Methanex Co. (TSE:MX) (NASDAQ:MEOH) has earned an average rating of “Buy” from the six brokerages that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold recommendation, two have given a buy recommendation and three have given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is C$46.50.

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada upgraded shares of Methanex from a “hold” rating to a “moderate buy” rating in a research report on Friday. Raymond James Financial set a C$40.00 target price on shares of Methanex and gave the company an “outperform” rating in a research report on Friday, June 13th. Finally, Scotiabank set a C$53.00 target price on shares of Methanex and gave the company an “outperform” rating in a research report on Friday, June 13th.

Insiders Place Their Bets

In related news, Director Rich Sumner acquired 1,479 shares of the business’s stock in a transaction on Friday, June 20th. The shares were bought at an average price of C$50.65 per share, with a total value of C$74,907.36. Insiders own 0.35% of the company’s stock.

Methanex Trading Down 1.3%

Shares of Methanex stock opened at C$45.70 on Friday. The firm has a 50-day simple moving average of C$46.64 and a two-hundred day simple moving average of C$51.49. The company has a market cap of C$2.18 billion, a P/E ratio of 14.36, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34.

Methanex Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. Methanex’s dividend payout ratio is currently 31.43%.

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.