UBS Group Forecasts Strong Price Appreciation for Methanex (NASDAQ:MEOH) Stock

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective upped by UBS Group from $53.00 to $66.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

Several other equities analysts have also recently weighed in on MEOH. Barclays lifted their price objective on Methanex from $46.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Scotiabank boosted their price target on Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 30th. Piper Sandler boosted their price target on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Finally, Raymond James boosted their price target on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $61.88.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $50.66 on Friday. The stock has a market capitalization of $3.41 billion, a PE ratio of 21.93 and a beta of 1.36. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The business has a fifty day moving average price of $48.98 and a two-hundred day moving average price of $44.97. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. As a group, equities analysts predict that Methanex will post 4.2 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.185 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.46%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

Institutional Investors Weigh In On Methanex

A number of institutional investors have recently made changes to their positions in MEOH. Squarepoint Ops LLC bought a new stake in shares of Methanex in the 2nd quarter valued at about $201,000. Truist Financial Corp boosted its position in shares of Methanex by 5.0% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its position in shares of Methanex by 9.9% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock valued at $49,022,000 after purchasing an additional 106,848 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Methanex by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after purchasing an additional 896 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Methanex by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock valued at $897,000 after purchasing an additional 707 shares in the last quarter. 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.