Methanex Co. (TSE:MX – Get Free Report) (NASDAQ:MEOH) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$58.61 and traded as low as C$55.48. Methanex shares last traded at C$55.56, with a volume of 44,714 shares traded.
Analyst Ratings Changes
Separately, Royal Bank of Canada reduced their price objective on Methanex from C$55.00 to C$50.00 and set a “sector perform” rating for the company in a research note on Friday, June 2nd.
Methanex Trading Down 1.2 %
Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last posted its earnings results on Wednesday, July 26th. The company reported C$0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.74 by C$0.07. Methanex had a return on equity of 15.76% and a net margin of 5.70%. The company had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.20 billion. As a group, research analysts anticipate that Methanex Co. will post 3.9222065 earnings per share for the current fiscal year.
Methanex Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Saturday, September 16th will be issued a $0.245 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.98 dividend on an annualized basis and a dividend yield of 1.76%. Methanex’s dividend payout ratio (DPR) is 21.88%.
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.
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