Methanex Co. (NASDAQ:MEOH) Receives $56.38 Average Target Price from Analysts

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been given a consensus rating of “Moderate Buy” by the eight brokerages that are covering the stock, MarketBeat reports. Three analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $56.38.

A number of research firms have issued reports on MEOH. Jefferies Financial Group raised their target price on Methanex from $56.00 to $60.00 and gave the company a “buy” rating in a report on Monday, June 10th. UBS Group boosted their price target on shares of Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Scotiabank raised their price objective on shares of Methanex from $54.00 to $58.00 and gave the stock a “sector outperform” rating in a report on Monday, April 29th. Piper Sandler reiterated a “neutral” rating and issued a $50.00 target price on shares of Methanex in a research note on Thursday, March 7th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research report on Friday.

Methanex Stock Up 0.1 %

Shares of Methanex stock opened at $48.26 on Friday. The stock’s fifty day moving average is $50.33 and its 200-day moving average is $47.32. The firm has a market capitalization of $3.25 billion, a PE ratio of 20.45 and a beta of 1.42. Methanex has a 12-month low of $38.31 and a 12-month high of $56.43. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.30 by $0.35. Methanex had a net margin of 4.63% and a return on equity of 5.38%. The company had revenue of $916.00 million during the quarter, compared to the consensus estimate of $908.50 million. Equities analysts anticipate that Methanex will post 2.22 earnings per share for the current year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.53%. The ex-dividend date of this dividend was Friday, June 14th. Methanex’s dividend payout ratio (DPR) is presently 31.36%.

Institutional Investors Weigh In On Methanex

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in Methanex by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 908,008 shares of the specialty chemicals company’s stock valued at $43,004,000 after acquiring an additional 15,190 shares during the last quarter. AGF Management Ltd. bought a new stake in shares of Methanex during the 4th quarter worth approximately $5,209,000. FIL Ltd grew its position in Methanex by 4.9% in the fourth quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after acquiring an additional 346,475 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Methanex by 1.6% during the third quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company’s stock worth $90,949,000 after buying an additional 32,244 shares during the last quarter. Finally, Citigroup Inc. grew its holdings in Methanex by 40.2% during the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after acquiring an additional 1,158 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

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.