BidaskClub upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a hold rating to a buy rating in a research report report published on Saturday, September 15th.
Other analysts also recently issued research reports about the company. Zacks Investment Research downgraded Methanex from a buy rating to a hold rating in a research report on Tuesday, May 22nd. Royal Bank of Canada boosted their target price on Methanex from $70.00 to $78.00 in a research report on Friday, July 27th. TD Securities boosted their target price on Methanex from $76.00 to $77.00 and gave the stock a hold rating in a research report on Friday, July 27th. Monness Crespi & Hardt boosted their target price on Methanex from $72.00 to $75.00 and gave the stock a buy rating in a research report on Friday, July 27th. Finally, Citigroup boosted their target price on Methanex from $67.00 to $75.00 and gave the stock a neutral rating in a research report on Wednesday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $78.08.
MEOH stock traded down $0.20 during mid-day trading on Friday, reaching $81.66. 186,000 shares of the company traded hands, compared to its average volume of 579,648. The firm has a market capitalization of $6.24 billion, a PE ratio of 17.28, a PEG ratio of 0.82 and a beta of 1.55. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.83. Methanex has a 52-week low of $48.55 and a 52-week high of $83.23.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.75. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $872.10 million. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The company’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same quarter last year, the company posted $0.85 EPS. On average, equities research analysts anticipate that Methanex will post 6.44 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 30th. Shareholders of record on Sunday, September 16th were given a $0.33 dividend. The ex-dividend date was Thursday, September 13th. This represents a $1.32 annualized dividend and a yield of 1.62%. Methanex’s payout ratio is currently 28.03%.
Hedge funds have recently made changes to their positions in the business. Mount Yale Investment Advisors LLC bought a new stake in Methanex in the first quarter valued at approximately $120,000. Highstreet Asset Management Inc. purchased a new position in shares of Methanex during the second quarter valued at approximately $183,000. Advisors Preferred LLC increased its stake in shares of Methanex by 57.8% during the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock valued at $190,000 after buying an additional 985 shares during the period. Suntrust Banks Inc. purchased a new position in shares of Methanex during the first quarter valued at approximately $212,000. Finally, One Capital Management LLC purchased a new position in shares of Methanex during the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 76.39% of the company’s stock.
Methanex Company Profile
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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