Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) reached a new 52-week low during trading on Thursday . The stock traded as low as $52.24 and last traded at $53.00, with a volume of 27463 shares. The stock had previously closed at $55.38.
Several research firms recently commented on MEOH. Jefferies Financial Group lowered Methanex from a “buy” rating to a “hold” rating in a report on Friday. Zacks Investment Research lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Monness Crespi & Hardt reissued a “buy” rating and issued a $80.00 price objective (down from $86.00) on shares of Methanex in a report on Monday, December 3rd. BidaskClub lowered Methanex from a “sell” rating to a “strong sell” rating in a report on Friday, November 30th. Finally, Royal Bank of Canada dropped their price objective on Methanex from $83.00 to $80.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $81.07.
The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 0.82. The firm has a market cap of $4.20 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.56 and a beta of 1.58.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $1.92 EPS for the quarter, missing the consensus estimate of $1.99 by ($0.07). Methanex had a net margin of 12.48% and a return on equity of 34.25%. The business had revenue of $1.04 billion during the quarter. On average, research analysts anticipate that Methanex Co. will post 6.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.46%. The ex-dividend date is Friday, December 14th. Methanex’s payout ratio is currently 28.03%.
A number of institutional investors and hedge funds have recently modified their holdings of MEOH. SG Americas Securities LLC purchased a new position in shares of Methanex in the third quarter valued at approximately $181,000. Highstreet Asset Management Inc. purchased a new position in shares of Methanex in the second quarter valued at approximately $183,000. Cerebellum GP LLC purchased a new position in shares of Methanex in the third quarter valued at approximately $188,000. Advisors Preferred LLC lifted its position in shares of Methanex by 57.8% in the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock valued at $190,000 after acquiring an additional 985 shares in the last quarter. Finally, One Capital Management LLC purchased a new position in shares of Methanex in the second quarter valued at approximately $212,000. 71.15% of the stock is currently owned by institutional investors.
About Methanex (NASDAQ:MEOH)
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.
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