Traders Buy High Volume of Methanex Call Options (NASDAQ:MEOH)


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Methanex Co. (NASDAQ:MEOH) (TSE:MX) was the recipient of unusually large options trading activity on Monday. Traders bought 2,376 call options on the stock. This represents an increase of approximately 520% compared to the typical volume of 383 call options.

MEOH has been the subject of several recent analyst reports. BMO Capital Markets boosted their price objective on shares of Methanex from $50.00 to $60.00 in a research note on Tuesday, December 29th. Tudor Pickering & Holt boosted their price objective on shares of Methanex from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Tuesday, December 29th. Raymond James reduced their price objective on shares of Methanex from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, January 28th. Barclays cut their price target on shares of Methanex from $47.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Friday, January 29th. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Methanex from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $55.00 in a research note on Wednesday, January 6th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $44.00.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Burke & Herbert Bank & Trust Co. boosted its holdings in Methanex by 16.7% during the first quarter. Burke & Herbert Bank & Trust Co. now owns 7,000 shares of the specialty chemicals company’s stock worth $258,000 after buying an additional 1,000 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Methanex by 6.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 300,455 shares of the specialty chemicals company’s stock worth $13,845,000 after buying an additional 18,787 shares in the last quarter. Norges Bank purchased a new stake in Methanex during the fourth quarter worth $36,165,000. Hsbc Holdings PLC purchased a new stake in Methanex during the fourth quarter worth $395,000. Finally, Guggenheim Capital LLC purchased a new stake in Methanex during the fourth quarter worth $255,000. 58.03% of the stock is currently owned by hedge funds and other institutional investors.

MEOH stock opened at $38.55 on Wednesday. The firm’s fifty day simple moving average is $39.07 and its 200-day simple moving average is $37.40. The company has a market capitalization of $2.94 billion, a P/E ratio of -23.08 and a beta of 2.20. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.91 and a quick ratio of 1.61. Methanex has a 12 month low of $12.05 and a 12 month high of $49.27.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Tuesday, January 26th. The specialty chemicals company reported $0.15 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.05). The business had revenue of $811.32 million during the quarter, compared to analysts’ expectations of $631.91 million. Methanex had a negative net margin of 4.84% and a negative return on equity of 7.82%. During the same period last year, the company earned $0.13 earnings per share. As a group, sell-side analysts forecast that Methanex will post -1.69 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Wednesday, March 17th were issued a dividend of $0.0375 per share. The ex-dividend date of this dividend was Tuesday, March 16th. This is an increase from Methanex’s previous quarterly dividend of $0.03. This represents a $0.15 dividend on an annualized basis and a yield of 0.39%. Methanex’s dividend payout ratio is 16.13%.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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