Methanex (NASDAQ:MEOH) PT Lowered to $54.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its target price decreased by UBS Group from $58.00 to $54.00 in a research report sent to investors on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the specialty chemicals company’s stock.

Several other brokerages have also weighed in on MEOH. Royal Bank of Canada reissued a sector perform rating and issued a $55.00 price objective on shares of Methanex in a report on Tuesday, September 3rd. Scotiabank lifted their price objective on Methanex from $58.00 to $60.00 and gave the stock a sector outperform rating in a report on Wednesday, July 10th. Barclays lowered Methanex from an overweight rating to an equal weight rating and decreased their price objective for the stock from $56.00 to $44.00 in a report on Tuesday, September 10th. Piper Sandler lifted their price objective on Methanex from $51.00 to $68.00 and gave the stock an overweight rating in a report on Tuesday, September 10th. Finally, Raymond James reduced their target price on Methanex from $62.00 to $54.00 and set an outperform rating for the company in a report on Wednesday, September 11th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Methanex has an average rating of Moderate Buy and an average price target of $55.38.

Methanex Trading Up 0.5 %

Shares of Methanex stock opened at $39.53 on Monday. Methanex has a 1 year low of $36.13 and a 1 year high of $56.43. The firm has a market cap of $2.66 billion, a PE ratio of 16.75 and a beta of 1.36. The stock has a fifty day moving average price of $44.95 and a 200-day moving average price of $47.16. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25 and a quick ratio of 0.87.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.10. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The firm had revenue of $920.00 million during the quarter, compared to analyst estimates of $954.26 million. During the same period last year, the firm posted $0.60 EPS. The business’s revenue was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Methanex will post 2.46 EPS for the current year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.87%. Methanex’s dividend payout ratio (DPR) is presently 31.36%.

Institutional Trading of Methanex

Large investors have recently modified their holdings of the business. BNP Paribas Financial Markets bought a new stake in shares of Methanex during the 1st quarter valued at about $494,000. Duality Advisers LP bought a new stake in shares of Methanex during the 1st quarter valued at about $779,000. M&G Plc bought a new stake in shares of Methanex during the 1st quarter valued at about $589,459,000. Dimensional Fund Advisors LP boosted its position in shares of Methanex by 1.7% during 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. Finally, Headlands Technologies LLC boosted its position in shares of Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after acquiring an additional 700 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

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.