Methanex Co. (NASDAQ:MEOH) Receives Average Rating of “Hold” from Brokerages

Shares of Methanex Co. (NASDAQ:MEOHGet Rating) (TSE:MX) have been given a consensus rating of “Hold” by the fourteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $52.08.

Several brokerages have issued reports on MEOH. UBS Group set a $35.00 price objective on shares of Methanex and gave the stock a “sell” rating in a research report on Thursday, January 27th. Tudor Pickering & Holt set a $44.00 price objective on shares of Methanex and gave the stock a “hold” rating in a research report on Wednesday, January 26th. StockNews.com downgraded shares of Methanex from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Investment Research downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating and set a $42.00 price objective for the company. in a research report on Friday, December 31st. Finally, TD Securities raised their price objective on shares of Methanex from $59.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, March 28th.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new position in Methanex during the fourth quarter valued at approximately $25,259,000. Barclays PLC raised its position in Methanex by 557.3% during the fourth quarter. Barclays PLC now owns 5,298 shares of the specialty chemicals company’s stock valued at $209,000 after purchasing an additional 4,492 shares in the last quarter. Legal & General Group Plc raised its position in Methanex by 3.8% during the fourth quarter. Legal & General Group Plc now owns 65,277 shares of the specialty chemicals company’s stock valued at $2,586,000 after purchasing an additional 2,377 shares in the last quarter. Millennium Management LLC raised its position in Methanex by 16.1% during the fourth quarter. Millennium Management LLC now owns 525,692 shares of the specialty chemicals company’s stock valued at $20,792,000 after purchasing an additional 72,886 shares in the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in Methanex by 93.4% during the fourth quarter. Cubist Systematic Strategies LLC now owns 102,538 shares of the specialty chemicals company’s stock valued at $4,056,000 after purchasing an additional 49,524 shares in the last quarter. Institutional investors and hedge funds own 89.21% of the company’s stock.

Methanex stock opened at $55.17 on Wednesday. Methanex has a 52 week low of $29.61 and a 52 week high of $56.79. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.06 and a quick ratio of 1.59. The company has a market capitalization of $4.07 billion, a PE ratio of 9.29 and a beta of 1.77. The stock’s 50-day simple moving average is $52.55.

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 26th. The specialty chemicals company reported $2.43 EPS for the quarter, missing analysts’ consensus estimates of $2.56 by ($0.13). Methanex had a return on equity of 25.88% and a net margin of 10.94%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the business posted $0.15 EPS. On average, sell-side analysts anticipate that Methanex will post 5.61 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Thursday, March 17th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, March 16th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.91%. Methanex’s payout ratio is 8.42%.

Methanex Company Profile (Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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