Methanex (NASDAQ:MEOH) Shares Pass Above Two Hundred Day Moving Average of $47.21

Shares of Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $47.21 and traded as high as $48.41. Methanex shares last traded at $48.36, with a volume of 161,652 shares trading hands.

Analysts Set New Price Targets

MEOH has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Methanex from $56.00 to $60.00 and gave the stock a "buy" rating in a report on Monday, June 10th. UBS Group lifted their price target on shares of Methanex from $59.00 to $62.00 and gave the stock a "buy" rating in a research note on Thursday, April 25th. Royal Bank of Canada increased their price objective on shares of Methanex from $50.00 to $55.00 and gave the stock a "sector perform" rating in a research report on Monday, June 3rd. Scotiabank upped their target price on Methanex from $54.00 to $58.00 and gave the company a "sector outperform" rating in a research note on Monday, April 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $56.38.

Methanex Trading Down 0.3 %

The company's fifty day moving average is $50.32 and its 200-day moving average is $47.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.17 and a quick ratio of 0.85. The company has a market capitalization of $3.25 billion, a PE ratio of 20.43 and a beta of 1.42.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.30 by $0.35. Methanex had a return on equity of 5.38% and a net margin of 4.63%. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $908.50 million. On average, analysts anticipate that Methanex Co. will post 2.27 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.53%. The ex-dividend date is Friday, June 14th. Methanex's dividend payout ratio is currently 31.36%.

Institutional Trading of Methanex

Several hedge funds and other institutional investors have recently made changes to their positions in MEOH. Toronto Dominion Bank grew its stake in shares of Methanex by 0.8% during the third quarter. Toronto Dominion Bank now owns 60,504 shares of the specialty chemicals company's stock worth $2,726,000 after acquiring an additional 487 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Methanex during the third quarter worth $712,000. Becker Capital Management Inc. increased its position in shares of Methanex by 0.5% in the 3rd quarter. Becker Capital Management Inc. now owns 542,370 shares of the specialty chemicals company's stock valued at $24,468,000 after acquiring an additional 2,868 shares during the period. American Century Companies Inc. lifted its position in Methanex by 11.2% during the 3rd quarter. American Century Companies Inc. now owns 317,575 shares of the specialty chemicals company's stock worth $14,312,000 after acquiring an additional 31,950 shares during the period. Finally, Citigroup Inc. grew its stake in Methanex by 40.2% during the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company's stock valued at $183,000 after purchasing an additional 1,158 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company's stock.

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.