Methanex Co. (MEOH) to Issue Quarterly Dividend of $0.19 on March 31st

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Thursday, January 30th,RTT News reports. Shareholders of record on Monday, March 17th will be paid a dividend of 0.185 per share by the specialty chemicals company on Monday, March 31st. This represents a $0.74 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, March 17th.

Methanex has raised its dividend by an average of 31.6% per year over the last three years. Methanex has a dividend payout ratio of 16.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Methanex to earn $4.78 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 15.5%.

Methanex Price Performance

NASDAQ:MEOH opened at $52.20 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The firm has a market cap of $3.52 billion, a price-to-earnings ratio of 22.60 and a beta of 1.37. The company has a 50 day moving average price of $48.33 and a 200-day moving average price of $44.96. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 11.10%. Equities research analysts forecast that Methanex will post 4.02 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MEOH. Scotiabank lifted their target price on shares of Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a research note on Thursday. CIBC reaffirmed an “outperformer” rating and set a $59.00 target price (up previously from $48.00) on shares of Methanex in a research note on Tuesday, December 10th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler boosted their price target on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Finally, UBS Group lowered their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.75.

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.