Methanex (NASDAQ:MEOH) Lowered to “Hold” at StockNews.com

Posted by MarketBeat News on Aug 2nd, 2022

StockNews.com downgraded shares of Methanex (NASDAQ:MEOH – Get Rating) (TSE:MX) from a buy rating to a hold rating in a research note released on Monday.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reiterated a maintains rating on shares of Methanex in a report on Tuesday, July 26th. Barclays cut their price objective on shares of Methanex from $63.00 to $60.00 and set an overweight rating on the stock in a report on Monday, July 11th. UBS Group cut their target price on shares of Methanex from $36.00 to $34.00 and set a sell rating on the stock in a research note on Thursday, July 28th. Jefferies Financial Group upped their target price on shares of Methanex from $67.00 to $73.00 in a research note on Thursday, June 16th. Finally, Scotiabank lowered shares of Methanex from a sector outperform rating to a sector perform rating and set a $50.00 target price on the stock. in a research note on Tuesday, May 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus price target of $51.85.

Methanex Stock Down 2.6 %

Shares of Methanex stock opened at $36.22 on Monday. The company has a fifty day moving average price of $42.23 and a 200 day moving average price of $47.73. The company has a current ratio of 2.35, a quick ratio of 1.77 and a debt-to-equity ratio of 0.90. Methanex has a twelve month low of $29.61 and a twelve month high of $56.79. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 5.62 and a beta of 1.67.

Methanex (NASDAQ:MEOH – Get Rating) (TSE:MX) last issued its quarterly earnings data on Wednesday, July 27th. The specialty chemicals company reported $1.16 EPS for the quarter, missing analysts’ consensus estimates of $1.85 by ($0.69). Methanex had a return on equity of 24.76% and a net margin of 11.10%. The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts forecast that Methanex will post 6.92 earnings per share for the current fiscal year.

Methanex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be given a $0.175 dividend. This is a boost from Methanex’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, September 15th. This represents a $0.70 annualized dividend and a yield of 1.93%. Methanex’s dividend payout ratio is 8.99%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. bought a new position in Methanex in the 1st quarter worth about $27,000. Van ECK Associates Corp grew its position in Methanex by 64.7% in the 1st quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock worth $42,000 after purchasing an additional 306 shares during the last quarter. Lazard Asset Management LLC grew its position in Methanex by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock worth $60,000 after purchasing an additional 302 shares during the last quarter. Quadrant Capital Group LLC grew its position in Methanex by 9.7% in the 4th quarter. Quadrant Capital Group LLC now owns 3,846 shares of the specialty chemicals company’s stock worth $152,000 after purchasing an additional 339 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. grew its position in Methanex by 284.8% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 3,425 shares of the specialty chemicals company’s stock worth $187,000 after purchasing an additional 2,535 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.

About Methanex

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Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.