Methanex (TSE:MX) Share Price Crosses Above Two Hundred Day Moving Average of $53.68

Methanex Co. (TSE:MX – Get Rating) (NASDAQ:MEOH)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$53.68 and traded as high as C$70.91. Methanex shares last traded at C$69.66, with a volume of 205,321 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank of Canada boosted their target price on shares of Methanex from C$50.00 to C$55.00 and gave the stock a “sector perform” rating in a research note on Wednesday, March 1st. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of C$49.43.

Methanex Trading Down 0.1 %

The company has a quick ratio of 1.59, a current ratio of 1.99 and a debt-to-equity ratio of 124.38. The company has a market cap of C$4.81 billion, a P/E ratio of 10.13, a PEG ratio of 0.44 and a beta of 2.07. The firm’s 50 day moving average is C$63.00 and its two-hundred day moving average is C$53.68.

Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH) last issued its quarterly earnings data on Thursday, February 2nd. The company reported C$0.99 earnings per share for the quarter, topping the consensus estimate of C$0.63 by C$0.36. Methanex had a net margin of 8.21% and a return on equity of 21.09%. The company had revenue of C$1.34 billion for the quarter, compared to analysts’ expectations of C$1.26 billion. As a group, equities research analysts anticipate that Methanex Co. will post 4.6637931 EPS for the current year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 17th will be issued a dividend of $0.238 per share. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.95 annualized dividend and a dividend yield of 1.37%. Methanex’s dividend payout ratio is currently 13.66%.

About Methanex

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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.