Methanex (NASDAQ:MEOH) Share Price Passes Above 200 Day Moving Average of $47.21

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $47.21 and traded as high as $48.41. Methanex shares last traded at $48.36, with a volume of 161,652 shares.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Piper Sandler reaffirmed a “neutral” rating and issued a $50.00 target price on shares of Methanex in a report on Thursday, March 7th. UBS Group lifted their target price on shares of Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Scotiabank lifted their target price on shares of Methanex from $54.00 to $58.00 and gave the company a “sector outperform” rating in a report on Monday, April 29th. Finally, Royal Bank of Canada lifted their target price on shares of Methanex from $50.00 to $55.00 and gave the company a “sector perform” rating in a report on Monday, June 3rd. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

Methanex Trading Up 0.6 %

The business’s 50-day moving average is $50.27 and its two-hundred day moving average is $47.21. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 1.17. The stock has a market capitalization of $3.26 billion, a PE ratio of 20.49 and a beta of 1.42.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.35. Methanex had a net margin of 4.63% and a return on equity of 5.38%. The firm had revenue of $916.00 million for the quarter, compared to analyst estimates of $908.50 million. As a group, equities research analysts anticipate that Methanex Co. will post 2.27 earnings per share for the current year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $0.74 annualized dividend and a dividend yield of 1.53%. Methanex’s payout ratio is currently 31.36%.

Institutional Investors Weigh In On Methanex

Several institutional investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC boosted its position in shares of Methanex by 0.6% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 39,649 shares of the specialty chemicals company’s stock worth $1,769,000 after purchasing an additional 229 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in shares of Methanex by 1.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 22,094 shares of the specialty chemicals company’s stock worth $986,000 after buying an additional 393 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in shares of Methanex by 3.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock worth $622,000 after buying an additional 411 shares in the last quarter. Westbourne Investment Advisors Inc. boosted its position in shares of Methanex by 0.4% in the 4th quarter. Westbourne Investment Advisors Inc. now owns 104,216 shares of the specialty chemicals company’s stock worth $4,936,000 after buying an additional 465 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Methanex by 0.8% in the 3rd quarter. Toronto Dominion Bank now owns 60,504 shares of the specialty chemicals company’s stock worth $2,726,000 after buying an additional 487 shares in the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

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.