Barclays Boosts Methanex (NASDAQ:MEOH) Price Target to $57.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its target price boosted by Barclays from $54.00 to $57.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the specialty chemicals company’s stock.

Several other equities analysts have also recently commented on MEOH. Raymond James boosted their price target on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler boosted their price target on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. UBS Group boosted their price target on shares of Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, CIBC boosted their price target on shares of Methanex from $59.00 to $63.00 and gave the company an “outperformer” rating in a report on Monday, February 3rd. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and a consensus target price of $62.25.

Methanex Trading Down 3.1 %

NASDAQ MEOH opened at $46.80 on Monday. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 20.26 and a beta of 1.36. The firm’s 50 day moving average price is $49.03 and its two-hundred day moving average price is $44.96.

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

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date is Monday, March 17th. Methanex’s dividend payout ratio is presently 32.03%.

Institutional Investors Weigh In On Methanex

A number of large investors have recently bought and sold shares of MEOH. Wilmington Savings Fund Society FSB bought a new stake in Methanex in the third quarter worth $40,000. Parkside Financial Bank & Trust lifted its position in Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 573 shares during the last quarter. Blue Trust Inc. lifted its position in Methanex by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 896 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Methanex during the 4th quarter worth $166,000. Finally, Signaturefd LLC lifted its position in Methanex by 15.0% during the 4th quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock worth $172,000 after acquiring an additional 450 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

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.