Methanex (NASDAQ:MEOH) Shares Down 5.7% – Time to Sell?

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) shares traded down 5.7% on Monday . The stock traded as low as $55.90 and last traded at $56.01. 440,228 shares changed hands during trading, a decline of 61% from the average session volume of 1,136,178 shares. The stock had previously closed at $59.39.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Scotiabank increased their price target on Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Zacks Research raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. BMO Capital Markets raised their target price on Methanex from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. UBS Group raised their target price on Methanex from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Finally, Jefferies Financial Group raised their target price on Methanex from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.78.

Methanex Trading Down 5.2%

The company has a current ratio of 1.96, a quick ratio of 1.26 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $4.36 billion, a price-to-earnings ratio of -114.93 and a beta of 0.56. The company has a fifty day moving average of $60.43 and a 200-day moving average of $51.56.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.The business had revenue of $957.42 million during the quarter, compared to analysts’ expectations of $964.76 million. During the same period last year, the business earned $1.30 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Methanex Corporation will post 8.18 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Tuesday, June 16th. Methanex’s dividend payout ratio (DPR) is -151.02%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its stake in Methanex by 0.3% in the 1st quarter. Public Employees Retirement System of Ohio now owns 82,381 shares of the specialty chemicals company’s stock worth $4,892,000 after purchasing an additional 225 shares in the last quarter. AMG National Trust Bank raised its position in shares of Methanex by 4.8% during the 1st quarter. AMG National Trust Bank now owns 8,127 shares of the specialty chemicals company’s stock valued at $484,000 after buying an additional 374 shares during the period. NewEdge Advisors LLC raised its position in shares of Methanex by 33.3% during the 3rd quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock valued at $80,000 after buying an additional 500 shares during the period. Parkside Financial Bank & Trust raised its position in shares of Methanex by 61.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock valued at $85,000 after buying an additional 812 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Methanex by 8.2% during the 4th quarter. Franklin Resources Inc. now owns 10,706 shares of the specialty chemicals company’s stock valued at $425,000 after buying an additional 813 shares during the period. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).