Methanex Co. (NASDAQ:MEOH) Given Consensus Recommendation of “Moderate Buy” by Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given a consensus recommendation of “Moderate Buy” by the eight analysts that are presently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $55.38.

MEOH has been the subject of a number of analyst reports. Jefferies Financial Group raised their target price on shares of Methanex from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 10th. Raymond James cut their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler upped their price target on Methanex from $51.00 to $68.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. UBS Group reduced their price objective on Methanex from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Barclays cut shares of Methanex from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $56.00 to $44.00 in a research note on Tuesday, September 10th.

Methanex Stock Up 0.7 %

Shares of NASDAQ MEOH opened at $44.57 on Friday. The firm has a fifty day simple moving average of $42.90 and a two-hundred day simple moving average of $47.06. The firm has a market capitalization of $3.00 billion, a PE ratio of 18.89 and a beta of 1.35. The company has a current ratio of 1.25, a quick ratio of 0.87 and a debt-to-equity ratio of 0.80. 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 earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The firm had revenue of $920.00 million for the quarter, compared to the consensus estimate of $954.26 million. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 EPS. Equities analysts expect that Methanex will post 2.41 earnings per share for the current year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were issued a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 1.66%. The ex-dividend date of this dividend was Monday, September 16th. Methanex’s dividend payout ratio is currently 31.36%.

Institutional Trading of Methanex

Institutional investors have recently made changes to their positions in the business. Clearbridge Investments LLC raised its position in shares of Methanex by 18.4% during the second quarter. Clearbridge Investments LLC now owns 52,350 shares of the specialty chemicals company’s stock valued at $2,526,000 after buying an additional 8,150 shares during the last quarter. Truist Financial Corp boosted its holdings in shares of Methanex by 5.0% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Methanex in the second quarter worth about $858,000. Mackenzie Financial Corp lifted its position in shares of Methanex by 3.4% in the second quarter. Mackenzie Financial Corp now owns 726,546 shares of the specialty chemicals company’s stock worth $35,082,000 after buying an additional 23,747 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Methanex by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 55,978 shares of the specialty chemicals company’s stock valued at $2,699,000 after buying an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.