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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, January 30th,RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.43%.

Methanex has increased its dividend by an average of 31.6% annually over the last three years. Methanex has a dividend payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Up 3.8 %

Shares of NASDAQ:MEOH traded up $1.91 during mid-day trading on Thursday, reaching $51.76. 868,591 shares of the company’s stock were exchanged, compared to its average volume of 392,057. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 24.19 and a beta of 1.37. The business’s fifty day moving average price is $48.20 and its 200-day moving average price is $44.91. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results 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 4.12% and a return on equity of 9.04%. On average, research analysts predict that Methanex will post 3.39 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Barclays boosted their target price on shares of Methanex from $46.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. UBS Group dropped 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. Raymond James lifted their price target on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Monday, January 6th. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and an average 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.