Methanex Co. (NASDAQ:MEOH) Receives $55.38 Consensus PT from Analysts

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $55.38.

Several research firms recently weighed in on MEOH. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, September 3rd. Raymond James cut their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Barclays downgraded shares of Methanex from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $56.00 to $44.00 in a report on Tuesday, September 10th. Scotiabank increased their price objective on shares of Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, July 10th. Finally, UBS Group lowered their target price on shares of Methanex from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, September 16th.

Methanex Price Performance

Shares of NASDAQ:MEOH opened at $42.13 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.25 and a debt-to-equity ratio of 0.80. The stock has a market capitalization of $2.84 billion, a PE ratio of 17.85 and a beta of 1.35. The firm’s 50 day moving average price is $42.59 and its 200-day moving average price is $47.01. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The business had revenue of $920.00 million for the quarter, compared to the consensus estimate of $954.26 million. During the same period last year, the firm earned $0.60 earnings per share. The company’s quarterly revenue was down 2.0% on a year-over-year basis. Equities research analysts expect that Methanex will post 2.41 EPS for the current year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Monday, September 16th. Methanex’s dividend payout ratio (DPR) is presently 31.36%.

Institutional Investors Weigh In On Methanex

Several large investors have recently made changes to their positions in the company. Headlands Technologies LLC grew its holdings in Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 700 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Methanex during the 1st quarter valued at approximately $45,000. Blue Trust Inc. grew its holdings in shares of Methanex by 52,500.0% in the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after purchasing an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Methanex by 572.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Value Partners Investments Inc. purchased a new stake in Methanex during the first quarter valued at $201,000. 73.49% of the stock is owned by institutional investors.

Methanex Company Profile

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.