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

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have received a consensus recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $53.50.

A number of equities research analysts recently commented on MEOH shares. Barclays upped their price objective on Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, February 12th. TheStreet upgraded shares of Methanex from a “c” rating to a “b-” rating in a research report on Thursday, January 11th. Raymond James decreased their price objective on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Methanex in a research note on Thursday, March 7th. Finally, UBS Group raised shares of Methanex from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $51.00 to $60.00 in a research report on Thursday, February 8th.

Hedge Funds Weigh In On Methanex

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Methanex by 1.6% during the third quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company’s stock worth $90,949,000 after buying an additional 32,244 shares during the period. Citigroup Inc. boosted its position in Methanex by 40.2% during the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after acquiring an additional 1,158 shares during the last quarter. Ausbil Investment Management Ltd bought a new position in shares of Methanex during the 4th quarter worth approximately $195,000. American Century Companies Inc. raised its holdings in shares of Methanex by 11.2% in the third quarter. American Century Companies Inc. now owns 317,575 shares of the specialty chemicals company’s stock valued at $14,312,000 after purchasing an additional 31,950 shares during the last quarter. Finally, Quantbot Technologies LP lifted its position in shares of Methanex by 356.3% in the third quarter. Quantbot Technologies LP now owns 17,583 shares of the specialty chemicals company’s stock worth $792,000 after purchasing an additional 13,730 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Trading Up 0.4 %

MEOH opened at $47.06 on Friday. The firm has a 50 day simple moving average of $45.33 and a 200 day simple moving average of $44.53. Methanex has a fifty-two week low of $38.18 and a fifty-two week high of $51.42. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 19.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 0.81.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS 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 net margin of 4.67% and a return on equity of 6.71%. On average, sell-side analysts anticipate that Methanex will post 2.15 earnings per share for the current year.

Methanex Announces Dividend

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

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.