Insider Buying: Methanex Co. (TSE:MX) Director Buys C$136,876.00 in Stock

Methanex Co. (TSE:MX) (NASDAQ:MEOH) Director Leslie O’donoghue purchased 2,500 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average cost of C$54.75 per share, for a total transaction of C$136,876.00.

Methanex Stock Up 2.5 %

MX opened at C$55.76 on Friday. The business’s fifty day simple moving average is C$59.83 and its 200 day simple moving average is C$64.28. Methanex Co. has a 52 week low of C$49.21 and a 52 week high of C$74.25. The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58. The stock has a market cap of C$3.76 billion, a PE ratio of 19.23, a P/E/G ratio of 0.44 and a beta of 1.82.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$0.85 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.19. The company had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.35 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%. As a group, research analysts expect that Methanex Co. will post 5.9716467 earnings per share for the current fiscal year.

Methanex Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.253 dividend. This represents a $1.01 dividend on an annualized basis and a dividend yield of 1.81%. This is a positive change from Methanex’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, September 16th. Methanex’s payout ratio is presently 34.83%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MX shares. Piper Sandler upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays cut shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 10th. Finally, Tudor Pickering upgraded shares of Methanex to a “strong-buy” rating in a research report on Wednesday, September 11th.

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.