Brokerages Set Methanex Co. (NASDAQ:MEOH) PT at $45.18

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been given an average rating of “Hold” by the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $46.17.

Several equities analysts have issued reports on MEOH shares. Tudor Pickering upped their target price on shares of Methanex from $38.00 to $40.00 and gave the company a “hold” rating in a research note on Wednesday, September 1st. Royal Bank of Canada upgraded shares of Methanex from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $45.00 to $50.00 in a research note on Tuesday, June 1st. Piper Sandler started coverage on shares of Methanex in a research note on Monday. They set a “neutral” rating and a $44.00 target price on the stock. TD Securities upped their target price on shares of Methanex from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, July 30th. Finally, Raymond James restated an “outperform” rating and set a $55.00 target price on shares of Methanex in a research note on Friday, July 30th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Voloridge Investment Management LLC bought a new stake in Methanex during the 1st quarter worth approximately $2,005,000. Acadian Asset Management LLC raised its stake in Methanex by 527.1% during the 1st quarter. Acadian Asset Management LLC now owns 5,600 shares of the specialty chemicals company’s stock worth $207,000 after acquiring an additional 4,707 shares during the period. Russell Investments Group Ltd. raised its stake in Methanex by 135.6% during the 1st quarter. Russell Investments Group Ltd. now owns 180,207 shares of the specialty chemicals company’s stock worth $6,648,000 after acquiring an additional 103,730 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. raised its stake in Methanex by 16.4% during the 2nd quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 920,091 shares of the specialty chemicals company’s stock worth $30,494,000 after acquiring an additional 129,586 shares during the period. Finally, Clear Harbor Asset Management LLC raised its stake in Methanex by 105.8% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 94,610 shares of the specialty chemicals company’s stock worth $3,129,000 after acquiring an additional 48,630 shares during the period. Institutional investors own 64.12% of the company’s stock.

MEOH stock traded down $0.88 during trading on Tuesday, hitting $38.91. 326,510 shares of the stock traded hands, compared to its average volume of 316,274. Methanex has a 1 year low of $21.73 and a 1 year high of $49.27. The firm’s 50 day moving average is $34.41 and its two-hundred day moving average is $36.21. The stock has a market cap of $2.97 billion, a price-to-earnings ratio of 38.91 and a beta of 2.26. The company has a debt-to-equity ratio of 1.25, a current ratio of 2.05 and a quick ratio of 1.58.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Tuesday, July 27th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.09. Methanex had a net margin of 2.78% and a return on equity of 7.03%. As a group, analysts anticipate that Methanex will post 5.19 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be paid a dividend of $0.125 per share. This is a boost from Methanex’s previous quarterly dividend of $0.04. The ex-dividend date is Wednesday, September 15th. This represents a $0.50 dividend on an annualized basis and a yield of 1.29%. Methanex’s dividend payout ratio (DPR) is presently -9.26%.

About Methanex

Methanex Corp. engages in the production and supply of methanol. The firm supplies in the international market such as North America, Asia Pacific, Europe, and South America. It also operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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