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

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have received a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $57.25.

A number of research analysts have weighed in on MEOH shares. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler increased their price objective on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. UBS Group decreased their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, Barclays lifted their price target on shares of Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th.

Institutional Trading of Methanex

Several institutional investors and hedge funds have recently added to or reduced their stakes in MEOH. Wilmington Savings Fund Society FSB bought a new position in Methanex in the 3rd quarter worth approximately $40,000. Barclays PLC boosted its position in shares of Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock worth $845,000 after acquiring an additional 8,047 shares during the last quarter. Toronto Dominion Bank grew its stake in Methanex by 7.8% during the third quarter. Toronto Dominion Bank now owns 35,819 shares of the specialty chemicals company’s stock valued at $1,481,000 after acquiring an additional 2,590 shares in the last quarter. Geode Capital Management LLC increased its holdings in Methanex by 1.2% in the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock valued at $4,340,000 after acquiring an additional 1,203 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Methanex in the 3rd quarter worth $1,092,000. Institutional investors own 73.49% of the company’s stock.

Methanex Price Performance

Shares of MEOH opened at $48.05 on Tuesday. The firm has a market cap of $3.24 billion, a PE ratio of 22.45 and a beta of 1.37. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The firm has a fifty day simple moving average of $46.36 and a two-hundred day simple moving average of $44.78.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.185 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.54%. Methanex’s payout ratio is presently 34.58%.

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.