Methanex Corporation (MEOH) to Issue Quarterly Dividend of $0.19 on March 31st

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Thursday, January 29th. Investors of record on Tuesday, March 17th will be given a dividend of 0.185 per share by the specialty chemicals company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Tuesday, March 17th.

Methanex has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Methanex has a dividend payout ratio of 20.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $4.85 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 15.3%.

Methanex Stock Down 2.5%

Shares of NASDAQ MEOH opened at $47.72 on Friday. Methanex has a 12-month low of $25.46 and a 12-month high of $54.49. The firm’s 50-day simple moving average is $41.72 and its 200 day simple moving average is $38.01. The company has a quick ratio of 1.33, a current ratio of 2.09 and a debt-to-equity ratio of 0.97. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 16.18 and a beta of 0.73.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.45). Methanex had a net margin of 5.97% and a return on equity of 9.07%. The company had revenue of $924.87 million during the quarter, compared to analyst estimates of $977.82 million. During the same quarter in the previous year, the business posted $1.21 EPS. The company’s revenue was down .9% compared to the same quarter last year. On average, research analysts expect that Methanex will post 4.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on MEOH. JPMorgan Chase & Co. upgraded Methanex from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $38.00 in a research report on Friday, October 31st. Scotiabank reaffirmed an “outperform” rating on shares of Methanex in a research note on Wednesday, January 21st. Zacks Research upgraded Methanex from a “strong sell” rating to a “hold” rating in a report on Tuesday. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Finally, CIBC reaffirmed an “outperform” rating on shares of Methanex in a research note on Monday, November 17th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Methanex has an average rating of “Moderate Buy” and a consensus target price of $47.00.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).