Methanex Co. (NASDAQ:MEOH) (TSE:MX) was the recipient of unusually large options trading on Monday. Stock traders acquired 2,376 call options on the company. This is an increase of approximately 520% compared to the typical volume of 383 call options.
A number of equities analysts have recently weighed in on the company. TheStreet raised Methanex from a “d+” rating to a “c-” rating in a research note on Monday, April 5th. BMO Capital Markets upped their price objective on Methanex from $50.00 to $60.00 in a research note on Tuesday, December 29th. Raymond James dropped their price objective on Methanex from $55.00 to $50.00 and set an “outperform” rating for the company in a research note on Thursday, January 28th. Tudor Pickering upped their price objective on Methanex from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Tuesday, December 29th. Finally, Scotiabank lowered Methanex from a “sector outperform” rating to a “sector perform” rating 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 assigned a buy rating to the company’s stock. Methanex presently has a consensus rating of “Hold” and a consensus price target of $44.00.
MEOH stock traded up $0.15 during midday trading on Monday, reaching $39.94. 10,187 shares of the company traded hands, compared to its average volume of 405,033. Methanex has a 52-week low of $12.05 and a 52-week high of $49.27. The company has a debt-to-equity ratio of 1.55, a quick ratio of 1.61 and a current ratio of 1.91. The business has a 50 day moving average of $38.85 and a 200-day moving average of $37.06. The firm has a market capitalization of $3.04 billion, a price-to-earnings ratio of -23.88 and a beta of 2.20.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Tuesday, January 26th. The specialty chemicals company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.05). Methanex had a negative net margin of 4.84% and a negative return on equity of 7.82%. The company had revenue of $811.32 million for the quarter, compared to analysts’ expectations of $631.91 million. During the same quarter last year, the company earned $0.13 earnings per share. Research analysts anticipate that Methanex will post -1.69 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Wednesday, March 17th were given 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 0.38%. Methanex’s dividend payout ratio is 16.13%.
Hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC raised its position in Methanex by 153.6% during the third quarter. Cubist Systematic Strategies LLC now owns 43,731 shares of the specialty chemicals company’s stock valued at $1,067,000 after purchasing an additional 26,485 shares during the period. Westbourne Investment Advisors Inc. purchased a new stake in shares of Methanex in the fourth quarter worth approximately $5,345,000. Northern Trust Corp raised its holdings in shares of Methanex by 11.3% in the fourth quarter. Northern Trust Corp now owns 230,675 shares of the specialty chemicals company’s stock worth $10,629,000 after buying an additional 23,443 shares during the period. Great West Life Assurance Co. Can lifted its stake in shares of Methanex by 6.2% during the 3rd quarter. Great West Life Assurance Co. Can now owns 515,873 shares of the specialty chemicals company’s stock worth $12,591,000 after acquiring an additional 30,034 shares during the last quarter. Finally, FIL Ltd lifted its stake in shares of Methanex by 67.9% during the 4th quarter. FIL Ltd now owns 7,850,647 shares of the specialty chemicals company’s stock worth $360,739,000 after acquiring an additional 3,174,135 shares during the last quarter. Institutional investors and hedge funds own 58.03% of the company’s stock.
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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