Methanex Co. (NASDAQ:MEOH) Given Consensus Rating of “Moderate Buy” by Brokerages

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $56.38.

A number of research analysts recently issued reports on the company. UBS Group lifted their target price on Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Jefferies Financial Group lifted their target price on Methanex from $56.00 to $60.00 and gave the company a “buy” rating in a report on Monday, June 10th. Piper Sandler restated a “neutral” rating and issued a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, June 28th. Finally, Scotiabank raised their price target on Methanex from $54.00 to $58.00 and gave the company a “sector outperform” rating in a research note on Monday, April 29th.

Methanex Stock Up 1.8 %

Shares of NASDAQ MEOH opened at $49.05 on Friday. The stock has a market cap of $3.31 billion, a P/E ratio of 20.78 and a beta of 1.39. The business’s fifty day simple moving average is $50.38 and its 200-day simple moving average is $47.37. Methanex has a 12-month low of $38.31 and a 12-month high of $56.43. The company has a current ratio of 1.17, a quick ratio of 0.85 and a debt-to-equity ratio of 0.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.35. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $908.50 million. Methanex had a return on equity of 5.38% and a net margin of 4.63%. As a group, equities analysts predict that Methanex will post 2.22 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a $0.185 dividend. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.74 annualized dividend and a yield of 1.51%. Methanex’s dividend payout ratio (DPR) is presently 31.36%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its holdings in Methanex by 1.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 908,008 shares of the specialty chemicals company’s stock valued at $43,004,000 after acquiring an additional 15,190 shares during the last quarter. AGF Management Ltd. acquired a new stake in shares of Methanex during the 4th quarter worth $5,209,000. FIL Ltd increased its holdings in shares of Methanex by 4.9% during the 4th quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock worth $349,868,000 after buying an additional 346,475 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. increased its holdings in shares of Methanex by 5.3% during the 1st quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,066,683 shares of the specialty chemicals company’s stock worth $47,589,000 after buying an additional 53,219 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in shares of Methanex by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company’s stock worth $90,949,000 after buying an additional 32,244 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

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.