Methanex (NASDAQ:MEOH) Given New $63.00 Price Target at CIBC

Methanex (NASDAQ:MEOH) (TSE:MX) had its target price lifted by CIBC from $59.00 to $63.00 in a research report report published on Monday morning,Benzinga reports. The brokerage currently has an outperformer rating on the specialty chemicals company’s stock.

A number of other brokerages have also recently commented on MEOH. Piper Sandler upped their price target on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Scotiabank boosted their price target on shares of Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a research note on Thursday, January 30th. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Raymond James increased their target price on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Methanex has an average rating of “Moderate Buy” and an average price target of $60.25.

Methanex Trading Down 0.2 %

Methanex stock opened at $52.08 on Monday. The business’s fifty day simple moving average is $48.45 and its two-hundred day simple moving average is $44.86. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of 22.55 and a beta of 1.36. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, equities analysts predict that Methanex will post 4.02 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.185 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.42%. Methanex’s payout ratio is presently 32.03%.

Institutional Trading of Methanex

Several hedge funds and other institutional investors have recently bought and sold shares of MEOH. Truist Financial Corp raised its holdings in Methanex by 5.0% in the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock worth $300,000 after purchasing an additional 294 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of Methanex by 15.0% in the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after acquiring an additional 371 shares during the last quarter. Bank of Hawaii grew its position in Methanex by 4.2% during the 3rd quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company’s stock worth $474,000 after purchasing an additional 465 shares during the period. Value Partners Investments Inc. raised its position in Methanex by 10.4% during the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after acquiring an additional 532 shares in the last quarter. Finally, Pinnacle Associates Ltd. increased its holdings in shares of Methanex by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock valued at $897,000 after purchasing an additional 707 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

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.