Methanex (NASDAQ:MEOH) Price Target Cut to $52.00 by Analysts at Barclays

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) had its target price trimmed by Barclays from $60.00 to $52.00 in a research report released on Tuesday morning, The Fly reports.

MEOH has been the subject of several other reports. Piper Sandler decreased their target price on shares of Methanex from $48.00 to $40.00 and set an underweight rating for the company in a research report on Friday, July 29th. Scotiabank downgraded shares of Methanex from a sector outperform rating to a sector perform rating and set a $50.00 target price for the company. in a research report on Tuesday, May 31st. StockNews.com downgraded shares of Methanex from a buy rating to a hold rating in a research report on Monday. UBS Group decreased their target price on shares of Methanex from $36.00 to $34.00 and set a sell rating for the company in a research report on Thursday, July 28th. Finally, Alembic Global Advisors reaffirmed a hold rating and issued a $40.00 price objective on shares of Methanex in a research report on Monday, May 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $51.23.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $36.08 on Tuesday. The firm’s 50-day moving average price is $41.98 and its 200-day moving average price is $47.65. Methanex has a 1-year low of $29.61 and a 1-year high of $56.79. The firm has a market capitalization of $2.56 billion, a P/E ratio of 5.59 and a beta of 1.67. 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 (NASDAQ:MEOHGet Rating) (TSE:MX) last announced its quarterly earnings data on Wednesday, July 27th. The specialty chemicals company reported $1.16 earnings per share for the quarter, missing the consensus estimate of $1.85 by ($0.69). Methanex had a net margin of 11.10% and a return on equity of 24.76%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts anticipate that Methanex will post 6.92 earnings per share for the current fiscal year.

Methanex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a dividend of $0.175 per share. This is a boost from Methanex’s previous quarterly dividend of $0.15. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date is Thursday, September 15th. Methanex’s dividend payout ratio is presently 8.99%.

Institutional Trading of Methanex

Institutional investors have recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Methanex during the 1st quarter valued at approximately $27,000. Van ECK Associates Corp lifted its stake in shares of Methanex by 64.7% during the 1st quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 306 shares in the last quarter. Lazard Asset Management LLC lifted its stake in shares of Methanex by 37.2% during the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 302 shares in the last quarter. Quadrant Capital Group LLC lifted its stake 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 in the last quarter. Finally, C M Bidwell & Associates Ltd. lifted its stake 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 in the last quarter. 91.37% of the stock is currently owned by hedge funds and other institutional investors.

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.

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