Analysts Set Methanex Co. (NASDAQ:MEOH) PT at $53.50

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $53.50.

A number of research analysts recently issued reports on MEOH shares. Royal Bank of Canada reissued a “sector perform” rating and set a $45.00 price target on shares of Methanex in a research report on Wednesday, April 3rd. UBS Group raised shares of Methanex from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $51.00 to $60.00 in a report on Thursday, February 8th. Barclays lifted their target price on shares of Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. TheStreet raised shares of Methanex from a “c” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Raymond James decreased their target price on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, February 21st.

Institutional Trading of Methanex

A number of large investors have recently made changes to their positions in MEOH. Tower Research Capital LLC TRC grew its stake in shares of Methanex by 1,158.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,271 shares of the specialty chemicals company’s stock worth $53,000 after acquiring an additional 1,170 shares during the period. Lazard Asset Management LLC increased its holdings in Methanex by 37.2% during the first 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 during the last quarter. State of Wyoming purchased a new stake in Methanex during the fourth quarter valued at approximately $92,000. Deutsche Bank AG purchased a new stake in Methanex during the fourth quarter valued at approximately $101,000. Finally, Citigroup Inc. increased its holdings in Methanex by 43.3% during the second quarter. Citigroup Inc. now owns 2,884 shares of the specialty chemicals company’s stock valued at $119,000 after buying an additional 871 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

Methanex Trading Down 0.0 %

NASDAQ:MEOH opened at $47.52 on Friday. The company has a 50-day moving average price of $45.27 and a 200-day moving average price of $44.50. Methanex has a 12 month low of $38.18 and a 12 month high of $51.42. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.84. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 19.32 and a beta of 1.51.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.28 by $0.24. Methanex had a net margin of 4.67% and a return on equity of 6.71%. The firm had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $901.21 million. Equities analysts predict that Methanex will post 2.15 EPS for the current year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a $0.185 dividend. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.56%. Methanex’s dividend payout ratio is presently 30.08%.

About Methanex

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.