Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.36 per share by the specialty chemicals company on Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 3.97%. The ex-dividend date is Friday, September 13th.

Methanex has increased its dividend by an average of 7.1% annually over the last three years and has raised its dividend annually for the last 8 consecutive years. Methanex has a dividend payout ratio of 22.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.0%.

Shares of Methanex stock traded down $0.42 during trading hours on Wednesday, reaching $36.26. 219,150 shares of the company’s stock were exchanged, compared to its average volume of 375,108. The business has a fifty day moving average of $34.29 and a two-hundred day moving average of $46.84. The company has a market capitalization of $2.67 billion, a P/E ratio of 5.29, a price-to-earnings-growth ratio of 2.29 and a beta of 1.74. The company has a quick ratio of 0.71, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. Methanex has a 1 year low of $30.25 and a 1 year high of $83.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.16). The business had revenue of $734.00 million during the quarter, compared to analysts’ expectations of $719.86 million. Methanex had a return on equity of 18.33% and a net margin of 10.81%. The business’s quarterly revenue was down 22.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.75 earnings per share. As a group, research analysts predict that Methanex will post 1.02 EPS for the current year.

A number of research analysts have weighed in on the stock. TheStreet lowered shares of Methanex from a “b-” rating to a “c+” rating in a research note on Friday, August 16th. Monness Crespi & Hardt restated a “buy” rating and issued a $69.00 price target (down from $77.00) on shares of Methanex in a research report on Thursday, June 27th. ValuEngine raised Methanex from a “strong sell” rating to a “sell” rating in a report on Thursday, September 5th. TD Securities reduced their price objective on Methanex from $58.00 to $52.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays decreased their target price on shares of Methanex from $53.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $56.63.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Dividend History for Methanex (NASDAQ:MEOH)

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