Methanex (NASDAQ:MEOH) Lowered to “Buy” at BidaskClub

BidaskClub downgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a strong-buy rating to a buy rating in a research note released on Tuesday, January 9th.

A number of other brokerages also recently issued reports on MEOH. Scotiabank restated a hold rating and set a $63.00 price target (up previously from $57.50) on shares of Methanex in a report on Wednesday, January 3rd. Cowen reiterated an outperform rating and set a $65.00 target price (up previously from $58.00) on shares of Methanex in a report on Thursday, December 14th. TD Securities upped their target price on Methanex from $58.00 to $59.00 and gave the stock a buy rating in a report on Friday, October 27th. Royal Bank of Canada reiterated a hold rating on shares of Methanex in a report on Wednesday, September 27th. Finally, UBS Group upped their target price on Methanex from $42.00 to $44.00 and gave the stock a sell rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. Methanex has an average rating of Hold and a consensus price target of $57.20.

Shares of Methanex (NASDAQ MEOH) opened at $61.25 on Tuesday. Methanex has a 52 week low of $39.47 and a 52 week high of $64.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59. The stock has a market capitalization of $5,141.08, a PE ratio of 20.35, a price-to-earnings-growth ratio of 0.83 and a beta of 1.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The company had revenue of $720.00 million during the quarter, compared to analyst estimates of $614.19 million. During the same quarter in the previous year, the company posted ($0.01) EPS. Methanex’s revenue for the quarter was up 41.2% on a year-over-year basis. sell-side analysts forecast that Methanex will post 3.89 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, December 31st. Stockholders of record on Sunday, December 17th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.96%. Methanex’s payout ratio is 39.87%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MEOH. ETRADE Capital Management LLC bought a new position in shares of Methanex during the 3rd quarter valued at $241,000. AHL Partners LLP bought a new position in shares of Methanex during the 2nd quarter valued at $300,000. PNC Financial Services Group Inc. lifted its holdings in shares of Methanex by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after buying an additional 259 shares during the period. Quantitative Investment Management LLC purchased a new stake in shares of Methanex in the 2nd quarter worth $321,000. Finally, Trexquant Investment LP purchased a new stake in shares of Methanex in the 3rd quarter worth $388,000. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

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Methanex Company Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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