Methanex Co. (NASDAQ:MEOH) Receives $62.25 Consensus Target Price from Analysts

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $62.25.

Several research firms have recently weighed in on MEOH. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a research note on Friday, January 31st. Scotiabank lifted their price objective on Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a research note on Thursday, January 30th. CIBC reaffirmed an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Piper Sandler lifted their price objective on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Finally, UBS Group boosted their price target on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, February 7th.

Institutional Investors Weigh In On Methanex

Several hedge funds and other institutional investors have recently bought and sold shares of MEOH. US Bancorp DE increased its holdings in Methanex by 34.2% during the 3rd quarter. US Bancorp DE now owns 13,888 shares of the specialty chemicals company’s stock worth $574,000 after purchasing an additional 3,540 shares during the last quarter. Chartwell Investment Partners LLC increased its holdings in Methanex by 27.8% during the 3rd quarter. Chartwell Investment Partners LLC now owns 202,863 shares of the specialty chemicals company’s stock worth $8,387,000 after purchasing an additional 44,173 shares during the last quarter. MQS Management LLC purchased a new stake in Methanex during the 3rd quarter worth approximately $401,000. PCJ Investment Counsel Ltd. purchased a new stake in Methanex during the 3rd quarter worth approximately $471,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Methanex by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,102 shares of the specialty chemicals company’s stock worth $8,483,000 after purchasing an additional 8,850 shares during the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Methanex Stock Up 1.3 %

MEOH opened at $42.25 on Wednesday. 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 stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.29 and a beta of 1.38. The business has a 50-day moving average of $47.96 and a two-hundred day moving average of $44.95. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released 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%. On average, research analysts expect that Methanex will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.75%. Methanex’s dividend payout ratio is presently 32.03%.

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.