Methanex (NASDAQ:MEOH) Stock Price Expected to Rise, Barclays Analyst Says

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target lifted by Barclays from $46.00 to $54.00 in a research note released on Monday,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other brokerages have also recently commented on MEOH. UBS Group decreased their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. 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 Monday, January 6th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Finally, Raymond James raised their target price on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.00.

Methanex Trading Down 0.8 %

Shares of NASDAQ:MEOH opened at $50.36 on Monday. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. Methanex has a 52-week low of $36.13 and a 52-week high of $56.43. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 23.53 and a beta of 1.37. The business has a 50-day moving average price of $47.88 and a 200-day moving average price of $44.89.

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex’s dividend payout ratio (DPR) is presently 34.58%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Asset Management L.P. raised its position in Methanex by 1,495.7% during the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company’s stock worth $5,739,000 after acquiring an additional 130,127 shares during the period. Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Methanex by 9.9% during the third quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock worth $49,022,000 after purchasing an additional 106,848 shares in the last quarter. Millennium Management LLC raised its position in shares of Methanex by 13.0% during the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock worth $24,551,000 after purchasing an additional 58,719 shares during the last quarter. Chartwell Investment Partners LLC lifted its stake in Methanex by 27.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company’s stock valued at $8,387,000 after buying an additional 44,173 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Methanex by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 944,262 shares of the specialty chemicals company’s stock worth $45,570,000 after buying an additional 30,887 shares during the last quarter. 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.