Methanex (NASDAQ:MEOH) Stock Price Down 11.5% - What's Next?

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX's share price traded down 11.5% on Monday . The stock traded as low as $37.49 and last traded at $37.41. 162,497 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 323,373 shares. The stock had previously closed at $42.25.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MEOH shares. Scotiabank cut Methanex from a "sector outperform" rating to a "sector perform" rating and reduced their price objective for the stock from $66.00 to $53.00 in a report on Monday. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a report on Friday, January 31st. CIBC reissued an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. Cibc World Mkts upgraded shares of Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Finally, UBS Group lifted their price objective on shares of Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $60.63.

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Methanex Trading Up 2.9 %

The firm's fifty day simple moving average is $46.92 and its 200 day simple moving average is $44.71. The stock has a market capitalization of $2.55 billion, a P/E ratio of 16.43 and a beta of 1.39. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, equities research analysts forecast that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.96%. Methanex's dividend payout ratio is currently 32.03%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MEOH. MQS Management LLC bought a new position in shares of Methanex in the third quarter worth about $401,000. PCJ Investment Counsel Ltd. bought a new position in Methanex in the 3rd quarter valued at approximately $471,000. Charles Schwab Investment Management Inc. boosted its position in Methanex by 4.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,102 shares of the specialty chemicals company's stock valued at $8,483,000 after buying an additional 8,850 shares in the last quarter. Cerity Partners LLC grew its stake in shares of Methanex by 19.1% during the third quarter. Cerity Partners LLC now owns 17,844 shares of the specialty chemicals company's stock worth $738,000 after buying an additional 2,863 shares during the last quarter. Finally, Bank of Hawaii increased its holdings in shares of Methanex by 4.2% during the third quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company's stock worth $474,000 after buying an additional 465 shares in the last quarter. Institutional investors own 73.49% of the company's stock.

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.