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

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been assigned an average recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $61.88.

A number of research analysts have commented on MEOH shares. Piper Sandler raised their target price on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Barclays boosted their price objective on shares of Methanex from $46.00 to $54.00 and gave the stock an “equal weight” rating in a research note on Monday, January 27th. CIBC increased their target price on Methanex from $59.00 to $63.00 and gave the company an “outperformer” rating in a research report on Monday, February 3rd. Scotiabank boosted their price target on Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a research report on Thursday, January 30th. Finally, Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

Hedge Funds Weigh In On Methanex

Several hedge funds have recently modified their holdings of MEOH. Bank of New York Mellon Corp boosted its stake in Methanex by 4,776.7% in the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after purchasing an additional 881,823 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Methanex during the fourth quarter valued at $14,327,000. Highland Peak Capital LLC acquired a new position in shares of Methanex in the 4th quarter valued at $10,400,000. Point72 Asset Management L.P. raised its stake in Methanex by 1,495.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock worth $5,739,000 after acquiring an additional 130,127 shares during the last quarter. Finally, Dixon Mitchell Investment Counsel Inc. raised its stake in Methanex by 9.9% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock worth $49,022,000 after acquiring an additional 106,848 shares during the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Down 0.6 %

Shares of NASDAQ:MEOH opened at $50.66 on Friday. The business’s 50 day moving average is $48.90 and its 200 day moving average is $44.99. The stock has a market cap of $3.41 billion, a P/E ratio of 21.93 and a beta of 1.36. Methanex has a 52-week low of $36.13 and a 52-week high of $56.43. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Sell-side analysts predict that Methanex will post 4.02 EPS for the current year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, March 17th. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

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.