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

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has received a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $62.25.

A number of analysts have commented on MEOH shares. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Raymond James boosted their target price on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. CIBC reiterated an “outperform” rating on shares of Methanex in a research report on Monday, February 3rd. Barclays boosted their target price on Methanex from $54.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Monday, February 10th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research report on Friday, January 31st.

Methanex Trading Down 3.3 %

NASDAQ:MEOH opened at $40.09 on Wednesday. The firm has a market cap of $2.70 billion, a P/E ratio of 17.36 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. The stock’s 50 day simple moving average is $48.37 and its 200-day simple moving average is $45.01. Methanex has a 12-month low of $36.13 and a 12-month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share 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%. Equities analysts anticipate that Methanex will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.85%. Methanex’s payout ratio is currently 32.03%.

Hedge Funds Weigh In On Methanex

Institutional investors have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Methanex in the third quarter valued at $40,000. Parkside Financial Bank & Trust increased its stake in Methanex by 39.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 573 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Methanex during the fourth quarter worth about $106,000. State of Wyoming acquired a new stake in Methanex during the fourth quarter worth about $129,000. Finally, Blue Trust Inc. increased its stake in Methanex by 15.0% during the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock worth $142,000 after acquiring an additional 371 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

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.