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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have covered the stock in the last year is $55.88.

Several equities research analysts have recently issued reports on MEOH shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Raymond James decreased their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. UBS Group dropped their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Barclays upped their target price on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th.

Methanex Price Performance

Methanex stock opened at $46.02 on Monday. The firm’s 50-day moving average is $41.51 and its two-hundred day moving average is $45.64. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The stock has a market capitalization of $3.10 billion, a P/E ratio of 21.50 and a beta of 1.36. Methanex has a 12-month low of $36.13 and a 12-month high of $56.43.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be paid a dividend of $0.185 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.61%. Methanex’s dividend payout ratio is presently 34.58%.

Institutional Investors Weigh In On Methanex

A number of institutional investors and hedge funds have recently bought and sold shares of MEOH. Blue Trust Inc. raised its holdings in shares of Methanex by 52,500.0% in the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after purchasing an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings 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 valued at $93,000 after buying an additional 1,626 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Methanex during the 2nd quarter valued at $201,000. Value Partners Investments Inc. boosted its stake in shares of Methanex by 13.3% during the 2nd quarter. Value Partners Investments Inc. now owns 5,110 shares of the specialty chemicals company’s stock worth $247,000 after acquiring an additional 599 shares in the last quarter. Finally, Bayesian Capital Management LP acquired a new position in shares of Methanex in the 1st quarter worth $239,000. 73.49% of the stock is owned by institutional investors and hedge funds.

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.