Recent Analysts’ Ratings Updates for Methanex (MEOH)

Several brokerages have updated their recommendations and price targets on shares of Methanex (NASDAQ: MEOH) in the last few weeks:

• 9/16/2024 – Methanex had its price target lowered by analysts at UBS Group AG from $58.00 to $54.00. They now have a “buy” rating on the stock.
• 9/11/2024 – Methanex had its price target lowered by analysts at Raymond James from $62.00 to $54.00. They now have an “outperform” rating on the stock.
• 9/10/2024 – Methanex had its price target raised by analysts at Piper Sandler from $51.00 to $68.00. They now have an “overweight” rating on the stock.
• 9/10/2024 – Methanex was downgraded by analysts at Barclays PLC from an “overweight” rating to an “equal weight” rating. They now have a $44.00 price target on the stock, down previously from $56.00.
• 9/3/2024 – Methanex had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $55.00 price target on the stock.
• 8/21/2024 – Methanex had its price target lowered by analysts at UBS Group AG from $62.00 to $58.00. They now have a “buy” rating on the stock.
• 8/7/2024 – Methanex was upgraded by analysts at Piper Sandler from a “neutral” rating to an “overweight” rating. They now have a $51.00 price target on the stock, up previously from $50.00.
• 8/1/2024 – Methanex had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $55.00 price target on the stock.
• 7/31/2024 – Methanex had its price target lowered by analysts at UBS Group AG from $64.00 to $62.00. They now have a “buy” rating on the stock.

Methanex Stock Performance

Shares of MEOH stock opened at $40.48 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.87 and a current ratio of 1.25. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.15 and a beta of 1.36. Methanex Co. has a one year low of $36.13 and a one year high of $56.43. The company’s 50-day moving average is $44.75 and its 200 day moving average is $47.11.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. The business had revenue of $920.00 million during the quarter, compared to analysts’ expectations of $954.26 million. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The business’s revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.60 earnings per share. Sell-side analysts expect that Methanex Co. will post 2.46 EPS for the current fiscal year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.74 annualized dividend and a dividend yield of 1.83%. Methanex’s payout ratio is 31.36%.

Institutional Trading of Methanex

Large investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC grew its position in Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after buying an additional 700 shares during the period. Larson Financial Group LLC bought a new stake in Methanex during the first quarter valued at approximately $45,000. Blue Trust Inc. grew its position in Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after buying an additional 1,575 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Methanex by 572.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after purchasing an additional 1,626 shares during the period. Finally, Value Partners Investments Inc. bought a new position in shares of Methanex in the first quarter worth approximately $201,000. 73.49% of the stock is currently owned by institutional investors.

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.