Methanex Co. (NASDAQ:MEOH) Receives $46.75 Average Target Price from Brokerages

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $48.25.

MEOH has been the subject of several research analyst reports. Scotiabank raised shares of Methanex from a “sector perform” rating to a “sector outperform” rating and set a $53.00 target price for the company in a research report on Monday, May 5th. UBS Group dropped their target price on shares of Methanex from $51.00 to $50.00 and set a “buy” rating for the company in a research report on Tuesday, May 13th. Raymond James dropped their target price on shares of Methanex from $62.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. CIBC dropped their target price on shares of Methanex from $47.00 to $44.00 and set an “outperformer” rating for the company in a research report on Monday, May 5th. Finally, Royal Bank of Canada lowered their price target on shares of Methanex from $55.00 to $50.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd.

Methanex Price Performance

Shares of Methanex stock opened at $32.43 on Monday. The firm has a market cap of $2.19 billion, a PE ratio of 14.04 and a beta of 0.93. Methanex has a 12-month low of $25.46 and a 12-month high of $54.49. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $32.04 and its two-hundred day simple moving average is $41.38.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The business had revenue of $857.90 million for the quarter, compared to analyst estimates of $1.06 billion. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The company’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 EPS. As a group, equities analysts expect that Methanex will post 4.32 EPS for the current year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.28%. Methanex’s dividend payout ratio (DPR) is currently 24.83%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of MEOH. Bank of New York Mellon Corp lifted its position in Methanex by 4,776.7% during the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock valued at $44,960,000 after acquiring an additional 881,823 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Methanex in the fourth quarter worth about $38,301,000. Alberta Investment Management Corp raised its holdings in Methanex by 1,499.0% in the first quarter. Alberta Investment Management Corp now owns 817,100 shares of the specialty chemicals company’s stock worth $28,671,000 after buying an additional 766,000 shares during the last quarter. Norges Bank purchased a new position in Methanex in the fourth quarter worth about $34,119,000. Finally, Cubist Systematic Strategies LLC raised its holdings in Methanex by 2,409.2% in the first quarter. Cubist Systematic Strategies LLC now owns 581,000 shares of the specialty chemicals company’s stock worth $20,388,000 after buying an additional 557,845 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

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.