Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Thursday, July 18th, Zacks reports. Investors of record on Monday, September 16th will be given a dividend of 0.36 per share by the specialty chemicals company on Monday, September 30th. This represents a $1.44 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Friday, September 13th.

Methanex has raised its dividend by an average of 7.1% annually over the last three years and has increased its dividend annually for the last 8 consecutive years. Methanex has a payout ratio of 22.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Methanex to earn $2.77 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 52.0%.

MEOH stock traded down $0.33 during midday trading on Wednesday, reaching $36.35. The company had a trading volume of 46,726 shares, compared to its average volume of 375,108. The company has a quick ratio of 0.71, a current ratio of 1.04 and a debt-to-equity ratio of 0.92. The stock has a 50 day moving average price of $34.29 and a 200 day moving average price of $46.84. Methanex has a fifty-two week low of $30.25 and a fifty-two week high of $83.23. The firm has a market capitalization of $2.67 billion, a PE ratio of 5.28, a P/E/G ratio of 2.29 and a beta of 1.74.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, July 31st. The specialty chemicals company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.16). The company had revenue of $734.00 million for the quarter, compared to the consensus estimate of $719.86 million. Methanex had a net margin of 10.81% and a return on equity of 18.33%. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period last year, the company posted $1.75 earnings per share. Research analysts predict that Methanex will post 1.02 EPS for the current year.

A number of research analysts recently issued reports on MEOH shares. TheStreet lowered Methanex from a “b-” rating to a “c+” rating in a research report on Friday, August 16th. Barclays dropped their target price on Methanex from $53.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday. Citigroup cut their target price on Methanex from $49.00 to $35.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Cowen reiterated a “market perform” rating and issued a $39.00 target price (down from $49.00) on shares of Methanex in a research note on Tuesday, August 6th. Finally, UBS Group reduced their price target on shares of Methanex from $35.00 to $26.00 and set a “sell” rating for the company in a report on Thursday, August 29th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $56.63.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases 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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Dividend History for Methanex (NASDAQ:MEOH)

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