Methanex Corp. (MEOH) Receives Buy Rating from BMO Capital Markets
A number of other brokerages have also weighed in on MEOH. Raymond James Financial Inc. lowered Methanex Corp. from a strong-buy rating to an outperform rating and increased their price objective for the company from $37.00 to $40.00 in a report on Monday, October 3rd. CIBC lowered Methanex Corp. from a sector outperform rating to a sector perform rating in a report on Monday, October 24th. Jefferies Group reaffirmed a buy rating and set a $41.00 target price on shares of Methanex Corp. in a report on Thursday, October 20th. Zacks Investment Research raised Methanex Corp. from a strong sell rating to a hold rating in a report on Friday, October 21st. Finally, Cowen and Company dropped their target price on Methanex Corp. from $43.00 to $40.00 and set an outperform rating on the stock in a report on Thursday, August 4th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $40.70.
Methanex Corp. (NASDAQ:MEOH) traded down 0.37% on Monday, reaching $40.75. The company had a trading volume of 588,629 shares. Methanex Corp. has a 1-year low of $22.73 and a 1-year high of $41.49. The stock’s 50 day moving average is $37.64 and its 200-day moving average is $32.22. The stock’s market capitalization is $3.66 billion.
Methanex Corp. (NASDAQ:MEOH) last announced its quarterly earnings data on Wednesday, October 26th. The company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.20. The business had revenue of $2.48 million for the quarter, compared to analyst estimates of $2.09 million. Methanex Corp. had a negative return on equity of 2.57% and a negative net margin of 1.45%. The company’s revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.26 earnings per share. On average, equities analysts predict that Methanex Corp. will post ($0.58) EPS for the current fiscal year.
TRADEMARK VIOLATION NOTICE: “Methanex Corp. (MEOH) Receives Buy Rating from BMO Capital Markets” was first published by Financial Market News and is the sole property of of Financial Market News. If you are viewing this piece of content on another website, it was illegally stolen and republished in violation of U.S. and international copyright legislation. The original version of this piece of content can be accessed at http://www.financial-market-news.com/methanex-corp-meoh-receives-buy-rating-from-bmo-capital-markets/1208855/.
The company also recently announced a quarterly dividend, which will be paid on Saturday, December 31st. Stockholders of record on Saturday, December 17th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $1.10 annualized dividend and a dividend yield of 2.69%. Methanex Corp.’s dividend payout ratio (DPR) is presently -366.67%.
Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Methanex Corp. during the second quarter valued at $109,000. Polaris Capital Management LLC increased its position in Methanex Corp. by 19.7% in the second quarter. Polaris Capital Management LLC now owns 4,250 shares of the company’s stock valued at $124,000 after buying an additional 700 shares during the period. First Interstate Bank increased its position in Methanex Corp. by 19.2% in the second quarter. First Interstate Bank now owns 5,250 shares of the company’s stock valued at $153,000 after buying an additional 845 shares during the period. Citigroup Inc. increased its position in Methanex Corp. by 104.6% in the second quarter. Citigroup Inc. now owns 6,045 shares of the company’s stock valued at $175,000 after buying an additional 137,805 shares during the period. Finally, World Asset Management Inc purchased a new position in Methanex Corp. during the third quarter valued at $215,000. Institutional investors and hedge funds own 85.15% of the company’s stock.
Methanex Corp. Company Profile
Methanex Corporation is a producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
Receive News & Ratings for Methanex Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex Corp. and related companies with MarketBeat.com's FREE daily email newsletter.