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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders of record on Monday, March 17th will be given 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 dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, March 17th.

Methanex has raised its dividend 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. Equities analysts expect Methanex to earn $4.78 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 15.5%.

Methanex Price Performance

MEOH stock opened at $52.20 on Friday. The company has a market capitalization of $3.52 billion, a P/E ratio of 22.60 and a beta of 1.37. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The business has a 50 day simple moving average of $48.33 and a 200-day simple moving average of $44.96. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 11.10%. As a group, equities analysts anticipate that Methanex will post 4.02 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on MEOH. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. UBS Group dropped their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. CIBC reiterated an “outperformer” rating and set a $59.00 price target (up from $48.00) on shares of Methanex in a research note on Tuesday, December 10th. Raymond James boosted their price target on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler boosted their price target on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Two 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 stock. Based on data from MarketBeat, Methanex currently has an average rating of “Moderate Buy” and a consensus price target of $59.75.

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.