Methanex Co. (MEOH) To Go Ex-Dividend on December 17th

Methanex Co. (NASDAQ:MEOH) (TSE:MX) announced a quarterly dividend on Tuesday, November 19th,Wall Street Journal reports. Stockholders of record on Tuesday, December 17th will be given a dividend of 0.185 per share by the specialty chemicals company on Tuesday, December 31st. This represents a $0.74 annualized dividend and a dividend yield of 1.63%. The ex-dividend date is Tuesday, December 17th.

Methanex has raised its dividend by an average of 15.6% annually over the last three years. Methanex has a dividend payout ratio of 18.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Methanex to earn $3.63 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 20.4%.

Methanex Price Performance

MEOH stock traded up $1.03 during trading on Thursday, hitting $45.45. The company had a trading volume of 259,112 shares, compared to its average volume of 301,266. The company has a fifty day moving average price of $41.18 and a two-hundred day moving average price of $45.69. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company has a market cap of $3.06 billion, a P/E ratio of 20.76 and a beta of 1.36. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James cut their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. UBS Group decreased their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Barclays lifted their price objective on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Piper Sandler increased their target price on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.88.

About Methanex

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.