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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Friday, June 14th will be paid a dividend of 0.185 per share by the specialty chemicals company on Friday, June 28th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Friday, June 14th.

Methanex has increased its dividend payment by an average of 15.6% annually over the last three years and has increased its dividend annually for the last 3 consecutive years. Methanex has a dividend payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $4.54 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 16.3%.

Methanex Stock Performance

Shares of MEOH stock opened at $47.77 on Friday. The company has a 50 day moving average price of $45.53 and a 200-day moving average price of $44.71. Methanex has a 52 week low of $38.18 and a 52 week high of $51.42. The firm has a market capitalization of $3.22 billion, a PE ratio of 20.24 and a beta of 1.50. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.24. The company had revenue of $922.00 million for the quarter, compared to the consensus estimate of $901.21 million. Methanex had a net margin of 4.63% and a return on equity of 5.36%. As a group, equities research analysts expect that Methanex will post 2.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MEOH shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Methanex in a report on Wednesday, April 3rd. CIBC raised their price objective on shares of Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. UBS Group lifted their price target on shares of Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday. TheStreet upgraded shares of Methanex from a “c” rating to a “b-” rating in a research report on Thursday, January 11th. Finally, Raymond James reduced their price objective on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 21st. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.75.

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.