Methanex Co. (NASDAQ:MEOH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $57.25.

Several analysts have commented on the stock. CIBC restated an “outperformer” rating and issued a $59.00 price objective (up from $48.00) on shares of Methanex in a report on Tuesday, December 10th. Raymond James lowered their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Barclays upped their price target on Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

Methanex Trading Up 0.0 %

NASDAQ:MEOH opened at $48.45 on Friday. The company has a 50-day moving average price of $44.12 and a 200-day moving average price of $44.82. The stock has a market cap of $3.26 billion, a price-to-earnings ratio of 22.64 and a beta of 1.40. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Institutional Trading of Methanex

Institutional investors and hedge funds have recently bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new position in shares of Methanex in the third quarter worth approximately $40,000. Blue Trust Inc. lifted its position in Methanex by 52,500.0% in the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after acquiring an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after purchasing an additional 1,626 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of Methanex in the 2nd quarter worth $201,000. Finally, Value Partners Investments Inc. raised its stake in shares of Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after purchasing an additional 532 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

About Methanex

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.