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

Methanex Co. (NASDAQ:MEOH) has received a consensus rating of "Moderate Buy" from nine analysts, with three holding, five buying, and one strongly buying the stock. The average price target is $60.63. Recent ratings include a downgrade from Scotiabank to "sector perform" with a target of $53.00, while Royal Bank of Canada maintains a $55.00 target. The company reported $1.24 EPS, exceeding estimates, and announced a quarterly dividend of $0.185. Methanex operates in the methanol supply industry across various regions.

Shares of Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX have earned a consensus rating of "Moderate Buy" from the nine ratings firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $60.63.

Several equities analysts recently weighed in on MEOH shares. Scotiabank downgraded Methanex from a "sector outperform" rating to a "sector perform" rating and dropped their price objective for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Raymond James boosted their price objective on shares of Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. CIBC restated an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. Finally, Barclays upped their price target on shares of Methanex from $54.00 to $57.00 and gave the company an "equal weight" rating in a report on Monday, February 10th.

View Our Latest Stock Analysis on MEOH

Methanex Price Performance

Shares of NASDAQ MEOH opened at $35.32 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. Methanex has a one year low of $35.08 and a one year high of $56.43. The firm has a market capitalization of $2.38 billion, a P/E ratio of 15.29 and a beta of 1.38. The company's fifty day moving average is $44.24 and its two-hundred day moving average is $44.17.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Analysts forecast that Methanex will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

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 2.10%. Methanex's payout ratio is currently 32.03%.

Institutional Trading of Methanex

Hedge funds have recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in shares of Methanex during the 3rd quarter worth about $40,000. Parkside Financial Bank & Trust raised 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 purchasing an additional 573 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Methanex in the 4th quarter valued at $106,000. State of Wyoming purchased a new stake in shares of Methanex during the 4th quarter valued at $129,000. Finally, Blue Trust Inc. increased its holdings in shares of Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after buying an additional 371 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Company Profile

(Get Free Report

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.

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