Methanex (MEOH) Rating Reiterated by Monness Crespi & Hardt

Monness Crespi & Hardt reiterated their buy rating on shares of Methanex (NASDAQ:MEOH) (TSE:MX) in a research report report published on Monday, Marketbeat Ratings reports. The firm currently has a $80.00 target price on the specialty chemicals company’s stock, down from their previous target price of $86.00.

Other research analysts have also issued research reports about the company. BidaskClub raised Methanex from a buy rating to a strong-buy rating in a research note on Friday, August 24th. Barclays began coverage on Methanex in a research note on Monday, October 8th. They set an equal weight rating and a $90.00 price target on the stock. Cowen increased their price target on Methanex from $80.00 to $89.00 and gave the stock an outperform rating in a research note on Monday, October 15th. Raymond James set a $90.00 price target on Methanex and gave the stock an outperform rating in a research note on Friday, October 26th. Finally, Tudor Pickering raised Methanex from a hold rating to a buy rating and set a $84.00 price target on the stock in a research note on Monday, October 29th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. Methanex has a consensus rating of Buy and a consensus price target of $81.07.

Shares of NASDAQ:MEOH opened at $53.82 on Monday. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 0.57 and a beta of 1.58. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.27 and a current ratio of 1.70. Methanex has a one year low of $52.24 and a one year high of $83.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.07). Methanex had a return on equity of 34.25% and a net margin of 12.48%. The business had revenue of $1.04 billion for the quarter. As a group, equities research analysts forecast that Methanex will post 6.43 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Friday, December 14th. Methanex’s dividend payout ratio (DPR) is currently 28.03%.

Institutional investors and hedge funds have recently modified their holdings of the stock. State of Wisconsin Investment Board raised its position in shares of Methanex by 96.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 77,605 shares of the specialty chemicals company’s stock worth $5,484,000 after buying an additional 38,105 shares during the period. Trexquant Investment LP raised its position in shares of Methanex by 67.6% in the 2nd quarter. Trexquant Investment LP now owns 9,740 shares of the specialty chemicals company’s stock worth $689,000 after buying an additional 3,928 shares during the period. Janus Henderson Group PLC raised its position in shares of Methanex by 173.8% in the 2nd quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock worth $24,753,000 after buying an additional 222,338 shares during the period. Millennium Management LLC raised its position in shares of Methanex by 12.5% in the 2nd quarter. Millennium Management LLC now owns 151,181 shares of the specialty chemicals company’s stock worth $10,688,000 after buying an additional 16,836 shares during the period. Finally, CIBC World Markets Inc. raised its position in shares of Methanex by 3.8% in the 3rd quarter. CIBC World Markets Inc. now owns 494,950 shares of the specialty chemicals company’s stock worth $39,151,000 after buying an additional 17,897 shares during the period. 71.15% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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