Methanex Co. (NASDAQ:MEOH) Receives $53.50 Average Price Target from Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has earned a consensus recommendation of “Moderate Buy” from the seven analysts that are currently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $53.50.

Several research analysts have issued reports on MEOH shares. CIBC raised their price target on shares of Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 target price on shares of Methanex in a research note on Wednesday, April 3rd. Barclays boosted their target price on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, February 12th. Piper Sandler reiterated a “neutral” rating and set a $50.00 price target on shares of Methanex in a report on Thursday, March 7th. Finally, UBS Group raised Methanex from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $51.00 to $60.00 in a research note on Thursday, February 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC increased its holdings in shares of Methanex by 37.2% during the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after acquiring an additional 302 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Methanex by 1,158.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,271 shares of the specialty chemicals company’s stock valued at $53,000 after purchasing an additional 1,170 shares in the last quarter. State of Wyoming acquired a new position in Methanex during the fourth quarter worth $92,000. Deutsche Bank AG acquired a new position in shares of Methanex during the fourth quarter valued at about $101,000. Finally, Citigroup Inc. increased its position in shares of Methanex by 43.3% during the second quarter. Citigroup Inc. now owns 2,884 shares of the specialty chemicals company’s stock worth $119,000 after acquiring an additional 871 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Up 0.4 %

Shares of NASDAQ:MEOH opened at $47.06 on Friday. The firm has a market cap of $3.17 billion, a P/E ratio of 19.13 and a beta of 1.50. Methanex has a 12-month low of $38.18 and a 12-month high of $51.42. The business has a fifty day simple moving average of $45.33 and a 200 day simple moving average of $44.53. The company has a quick ratio of 0.81, a current ratio of 1.14 and a debt-to-equity ratio of 0.84.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.24. The company had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $901.21 million. Methanex had a return on equity of 6.71% and a net margin of 4.67%. Analysts predict that Methanex will post 2.15 earnings per share for the current year.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.185 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.74 annualized dividend and a dividend yield of 1.57%. Methanex’s dividend payout ratio is presently 30.08%.

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.