Methanex Co. (NASDAQ:MEOH) Announces $0.33 Quarterly Dividend

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Methanex Co. (NASDAQ:MEOH) (TSE:MX) declared a quarterly dividend on Wednesday, April 25th, Zacks reports. Stockholders of record on Saturday, June 16th will be given a dividend of 0.33 per share by the specialty chemicals company on Saturday, June 30th. This represents a $1.32 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Thursday, June 14th.

NASDAQ MEOH opened at $68.50 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.29 and a current ratio of 1.75. Methanex has a 12-month low of $39.47 and a 12-month high of $72.20. The company has a market cap of $5.73 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 0.83 and a beta of 1.65.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, April 25th. The specialty chemicals company reported $2.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.08 by ($0.05). The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.83 million. Methanex had a return on equity of 24.47% and a net margin of 11.00%. The business’s revenue for the quarter was up 18.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. equities research analysts forecast that Methanex will post 5.58 EPS for the current year.

Methanex announced that its Board of Directors has approved a stock buyback program on Monday, March 5th that permits the company to buyback 6,590,000 outstanding shares. This buyback authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of equities research analysts recently issued reports on MEOH shares. ValuEngine lowered Methanex from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Jefferies Financial Group upped their target price on Methanex from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 8th. TD Securities upped their target price on Methanex from $68.00 to $69.00 and gave the company a “hold” rating in a research note on Wednesday, April 11th. BidaskClub raised Methanex from a “buy” rating to a “strong-buy” rating in a research note on Monday, May 14th. Finally, Zacks Investment Research raised Methanex from a “hold” rating to a “strong-buy” rating and set a $82.00 target price on the stock in a research note on Tuesday, June 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $68.63.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

Dividend History for Methanex (NASDAQ:MEOH)

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