Tudor Pickering upgraded shares of Methanex (TSE:MX – Free Report) (NASDAQ:MEOH) to a strong-buy rating in a research note released on Wednesday, Zacks.com reports.
A number of other analysts have also issued reports on the company. Piper Sandler upgraded Methanex from a hold rating to a strong-buy rating in a research note on Wednesday, August 7th. Barclays cut Methanex from a strong-buy rating to a hold rating in a research report on Tuesday, September 10th.
Get Our Latest Research Report on Methanex
Methanex Stock Performance
Methanex (TSE:MX – Get Free Report) (NASDAQ:MEOH) last issued its earnings results on Tuesday, July 30th. The company reported C$0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.66 by C$0.19. The firm had revenue of C$1.26 billion for the quarter, compared to analyst estimates of C$1.35 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%. As a group, analysts anticipate that Methanex will post 5.6560088 EPS for the current year.
Methanex Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.253 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.01 annualized dividend and a dividend yield of 1.97%. This is a positive change from Methanex’s previous quarterly dividend of $0.25. Methanex’s dividend payout ratio is currently 34.83%.
Insider Transactions at Methanex
In other Methanex news, Director Dean Richardson bought 1,500 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were acquired at an average cost of C$50.52 per share, for a total transaction of C$75,780.00. In related news, Director Alejandro Larrive sold 1,000 shares of the business’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of C$66.00, for a total value of C$66,003.30. Also, Director Dean Richardson acquired 1,500 shares of Methanex stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of C$50.52 per share, for a total transaction of C$75,780.00. In the last quarter, insiders bought 2,100 shares of company stock valued at $106,186. Corporate insiders own 0.35% 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.
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