Methanex Corporation (NASDAQ:MEOH) Given Consensus Rating of “Moderate Buy” by Brokerages

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) has been assigned a consensus recommendation of “Moderate Buy” from the eleven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $66.7778.

Several equities analysts recently issued reports on the company. Zacks Research upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Royal Bank Of Canada lifted their price target on shares of Methanex from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Friday, May 1st. BMO Capital Markets upped their price target on shares of Methanex from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Scotiabank increased their price objective on shares of Methanex from $70.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 5th. Finally, Jefferies Financial Group raised their price objective on shares of Methanex from $50.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, March 11th.

Methanex Stock Performance

MEOH stock opened at $59.83 on Friday. Methanex has a 1-year low of $31.57 and a 1-year high of $66.75. 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 firm has a market cap of $4.63 billion, a PE ratio of -122.10 and a beta of 0.60. The business’s 50-day moving average price is $60.15 and its two-hundred day moving average price is $49.74.

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

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be issued a dividend of $0.185 per share. The ex-dividend date is Tuesday, June 16th. This represents a $0.74 annualized dividend and a yield of 1.2%. Methanex’s dividend payout ratio is presently -151.02%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its holdings in shares of Methanex by 629.5% in the 4th quarter. Wellington Management Group LLP now owns 2,316,270 shares of the specialty chemicals company’s stock valued at $92,000,000 after buying an additional 1,998,763 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Methanex by 249.8% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,432,483 shares of the specialty chemicals company’s stock worth $56,939,000 after buying an additional 1,022,987 shares during the last quarter. Norges Bank bought a new stake in Methanex during the fourth quarter worth $34,872,000. Boston Partners raised its position in Methanex by 686.0% during the third quarter. Boston Partners now owns 963,408 shares of the specialty chemicals company’s stock worth $38,277,000 after acquiring an additional 840,831 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Methanex by 116.8% in the third quarter. Millennium Management LLC now owns 1,157,233 shares of the specialty chemicals company’s stock valued at $46,011,000 after acquiring an additional 623,502 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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).