Methanex (NASDAQ:MEOH) Stock Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $49.74 and traded as high as $60.56. Methanex shares last traded at $59.83, with a volume of 524,377 shares traded.

Analyst Ratings Changes

MEOH has been the subject of several research reports. Jefferies Financial Group increased their price objective on shares of Methanex from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, March 11th. Wall Street Zen raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Raymond James Financial raised their target price on shares of Methanex from $52.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. Scotiabank raised their target price on shares of Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, May 5th. Finally, Canadian Imperial Bank of Commerce reaffirmed a “neutral” rating and issued a $69.00 target price on shares of Methanex in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Methanex currently has an average rating of “Moderate Buy” and an average price target of $66.78.

Methanex Trading Down 1.2%

The business’s 50-day moving average price is $60.27 and its 200 day moving average price is $49.81. The company has a market cap of $4.57 billion, a P/E ratio of -120.61 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The firm had revenue of $957.42 million during the quarter, compared to the consensus estimate of $964.76 million. During the same period last year, the business earned $1.30 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, analysts expect that Methanex Corporation will post 6.36 earnings per share for the current year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend 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 Trading of Methanex

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC acquired a new stake in shares of Methanex during the 2nd quarter worth about $50,000. Clearstead Advisors LLC lifted its stake in shares of Methanex by 336.2% during the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock worth $71,000 after buying an additional 1,375 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake 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 worth $85,000 after buying an additional 812 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Methanex by 131.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock worth $99,000 after buying an additional 1,410 shares during the last quarter. Finally, AXA S.A. acquired a new stake in Methanex in the 2nd quarter worth about $166,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

About Methanex

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).