Methanex (NASDAQ:MEOH) PT Lowered to $54.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective decreased by UBS Group from $58.00 to $54.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price target suggests a potential upside of 37.33% from the company’s previous close.

Other equities analysts have also recently issued reports about the stock. Piper Sandler upped their price objective on shares of Methanex from $51.00 to $68.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Scotiabank raised their price target on shares of Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research note on Wednesday, July 10th. Jefferies Financial Group boosted their price objective on Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Monday, June 10th. Raymond James decreased their target price on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Finally, Barclays cut Methanex from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $56.00 to $44.00 in a research report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Methanex has a consensus rating of “Moderate Buy” and a consensus target price of $55.38.

Methanex Stock Performance

MEOH opened at $39.32 on Monday. The stock has a market cap of $2.65 billion, a P/E ratio of 16.66 and a beta of 1.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25 and a quick ratio of 0.87. The firm has a fifty day moving average price of $45.15 and a 200 day moving average price of $47.21. Methanex has a 1 year low of $36.13 and a 1 year high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The business had revenue of $920.00 million for the quarter, compared to analyst estimates of $954.26 million. During the same period in the prior year, the company posted $0.60 EPS. The company’s revenue for the quarter was down 2.0% on a year-over-year basis. Equities research analysts anticipate that Methanex will post 2.46 earnings per share for the current year.

Institutional Investors Weigh In On Methanex

A number of hedge funds have recently modified their holdings of MEOH. Headlands Technologies LLC grew its holdings in shares of Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock worth $40,000 after purchasing an additional 700 shares during the period. Larson Financial Group LLC acquired a new stake in shares of Methanex during the first quarter valued at about $45,000. Blue Trust Inc. increased its position in shares of Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after acquiring an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Methanex by 572.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after acquiring an additional 1,626 shares during the period. Finally, Value Partners Investments Inc. acquired a new position in shares of Methanex in the 1st quarter worth approximately $201,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.