Methanex (TSE:MX) Upgraded at National Bank Financial

National Bank Financial upgraded shares of Methanex (TSE:MX) (NASDAQ:MEOH) to a strong-buy rating in a research report report published on Thursday morning,Zacks.com reports.

A number of other research analysts also recently weighed in on MX. Royal Bank Of Canada upgraded Methanex from a “hold” rating to a “moderate buy” rating in a report on Friday, August 1st. Scotiabank set a C$53.00 target price on Methanex and gave the company an “outperform” rating in a research note on Friday, June 13th. Finally, Raymond James Financial set a C$40.00 target price on Methanex and gave the company an “outperform” rating in a research note on Friday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Strong Buy” and a consensus target price of C$46.50.

Methanex Stock Up 3.8%

TSE:MX opened at C$55.41 on Thursday. The stock has a fifty day simple moving average of C$49.38 and a 200-day simple moving average of C$47.13. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53. The company has a market cap of C$4.29 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.44 and a beta of 1.24. Methanex has a twelve month low of C$36.10 and a twelve month high of C$78.18.

Methanex Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. Methanex’s payout ratio is 21.26%.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel.