Methanex Co. (MEOH) To Go Ex-Dividend on June 14th

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Investors of record on Friday, June 14th will be paid a dividend of 0.185 per share by the specialty chemicals company on Friday, June 28th. This represents a $0.74 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, June 14th.

Methanex has increased its dividend payment by an average of 15.6% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Methanex has a payout ratio of 16.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Methanex to earn $4.54 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 16.3%.

Methanex Stock Up 0.1 %

Methanex stock opened at $47.77 on Friday. The stock has a market cap of $3.22 billion, a P/E ratio of 20.24 and a beta of 1.50. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.84. Methanex has a twelve month low of $38.18 and a twelve month high of $51.42. The company’s 50-day moving average price is $45.53 and its two-hundred day moving average price is $44.71.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. Methanex had a net margin of 4.63% and a return on equity of 5.36%. The company had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $901.21 million. As a group, analysts expect that Methanex will post 2.35 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $50.00 target price on shares of Methanex in a report on Thursday, March 7th. Barclays lifted their price objective on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. TheStreet raised shares of Methanex from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 price objective on shares of Methanex in a research note on Wednesday, April 3rd. Finally, CIBC lifted their price objective on shares of Methanex from $46.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Methanex has a consensus rating of “Moderate Buy” and an average target price of $53.75.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.