Methanex Co. (NASDAQ:MEOH) Declares Quarterly Dividend of $0.19

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.185 per share by the specialty chemicals company on Monday, March 31st. This represents a $0.74 annualized dividend and a yield of 1.43%.

Methanex has raised its dividend payment by an average of 31.6% annually over the last three years. Methanex has a dividend payout ratio of 16.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Methanex to earn $4.02 per share next year, which means the company should continue to be able to cover its $0.74 annual dividend with an expected future payout ratio of 18.4%.

Methanex Stock Performance

MEOH stock traded up $1.91 during mid-day trading on Thursday, hitting $51.76. 868,591 shares of the company were exchanged, compared to its average volume of 392,057. The business has a 50 day simple moving average of $48.20 and a 200-day simple moving average of $44.91. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.49 billion, a PE ratio of 24.19 and a beta of 1.37. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.12% and a return on equity of 9.04%. On average, equities analysts forecast that Methanex will post 3.39 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MEOH. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. CIBC reaffirmed an “outperformer” rating and set a $59.00 target price (up from $48.00) on shares of Methanex in a report on Tuesday, December 10th. UBS Group lowered their target price on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Finally, Raymond James raised their target price on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and a consensus target price of $59.75.

Methanex Company Profile

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.