Methanex (NASDAQ:MEOH) Given New $64.00 Price Target at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target lifted by UBS Group from $62.00 to $64.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other analysts have also recently issued reports on the stock. Royal Bank of Canada reissued a sector perform rating and issued a $55.00 price objective on shares of Methanex in a research note on Friday, June 28th. Scotiabank increased their price objective on shares of Methanex from $54.00 to $58.00 and gave the stock a sector outperform rating in a research note on Monday, April 29th. Finally, Jefferies Financial Group increased their price objective on shares of Methanex from $56.00 to $60.00 and gave the stock a buy rating in a research note on Monday, June 10th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Methanex has a consensus rating of Moderate Buy and an average target price of $56.88.

Methanex Stock Up 1.3 %

Shares of Methanex stock opened at $51.08 on Tuesday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 21.64 and a beta of 1.39. The company’s 50 day moving average is $50.43 and its 200 day moving average is $47.40. Methanex has a twelve month low of $38.31 and a twelve month high of $56.43. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.35. Methanex had a net margin of 4.63% and a return on equity of 5.38%. The company had revenue of $916.00 million for the quarter, compared to the consensus estimate of $908.50 million. Research analysts anticipate that Methanex will post 2.22 EPS for the current year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.185 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.74 annualized dividend and a yield of 1.45%. Methanex’s dividend payout ratio (DPR) is currently 31.36%.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently bought and sold shares of MEOH. Headlands Technologies LLC lifted its position in Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 700 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Methanex in the 1st quarter worth about $45,000. U S Global Investors Inc. bought a new stake in shares of Methanex in the 1st quarter worth about $178,000. Citigroup Inc. lifted its holdings in shares of Methanex by 40.2% in the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after acquiring an additional 1,158 shares during the last quarter. Finally, Ausbil Investment Management Ltd bought a new stake in shares of Methanex in the 4th quarter worth about $195,000. Institutional investors own 73.49% of the company’s stock.

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.