Methanex (NASDAQ:MEOH) Given New $57.00 Price Target at Barclays

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective hoisted by Barclays from $54.00 to $57.00 in a report issued on Monday,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

A number of other equities analysts also recently issued reports on the company. Piper Sandler increased their price objective on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. UBS Group upped their price objective on shares of Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a report on Friday, January 31st. Finally, StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.25.

Methanex Trading Down 1.6 %

NASDAQ:MEOH opened at $49.83 on Monday. The company has a 50-day moving average price of $48.98 and a 200-day moving average price of $44.94. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of 21.57 and a beta of 1.36. 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 has a 12 month low of $36.13 and a 12 month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Equities analysts predict that Methanex will post 4.2 EPS for the current year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.49%. Methanex’s dividend payout ratio is presently 32.03%.

Hedge Funds Weigh In On Methanex

A number of institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Methanex by 15.0% during the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock valued at $172,000 after purchasing an additional 450 shares during the period. Intact Investment Management Inc. lifted its position in shares of Methanex by 7.3% in the fourth quarter. Intact Investment Management Inc. now owns 257,700 shares of the specialty chemicals company’s stock valued at $12,876,000 after acquiring an additional 17,500 shares in the last quarter. Aviso Financial Inc. boosted its stake in shares of Methanex by 5.5% in the fourth quarter. Aviso Financial Inc. now owns 29,089 shares of the specialty chemicals company’s stock worth $1,453,000 after acquiring an additional 1,507 shares during the period. Swiss National Bank grew its position in shares of Methanex by 0.6% during the fourth quarter. Swiss National Bank now owns 133,300 shares of the specialty chemicals company’s stock worth $6,658,000 after purchasing an additional 800 shares in the last quarter. Finally, Highland Peak Capital LLC purchased a new position in shares of Methanex in the fourth quarter worth $10,400,000. 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.