Methanex Co. (NASDAQ:MEOH) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX) have received an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $53.64.

Several equities research analysts have recently issued reports on MEOH shares. BMO Capital Markets increased their target price on shares of Methanex from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Monday, February 6th. Raymond James lowered their target price on shares of Methanex from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, May 1st. Alembic Global Advisors raised shares of Methanex from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $60.00 in a research note on Monday, March 13th. StockNews.com started coverage on shares of Methanex in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Piper Sandler raised shares of Methanex from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $46.00 to $49.00 in a research note on Tuesday, April 11th.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Banque Cantonale Vaudoise acquired a new stake in shares of Methanex during the 4th quarter worth approximately $40,000. Lazard Asset Management LLC increased its holdings in Methanex by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 302 shares during the last quarter. State of Wyoming acquired a new stake in Methanex in the 4th quarter valued at approximately $92,000. Deutsche Bank AG acquired a new stake in Methanex in the 4th quarter valued at approximately $101,000. Finally, JTC Employer Solutions Trustee Ltd acquired a new stake in Methanex in the 4th quarter valued at approximately $123,000. Institutional investors and hedge funds own 69.38% of the company’s stock.

Methanex Price Performance

Shares of MEOH opened at $42.32 on Thursday. The business’s 50-day moving average is $44.45 and its two-hundred day moving average is $43.66. The company has a market capitalization of $2.88 billion, a P/E ratio of 11.32 and a beta of 1.63. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.40 and a current ratio of 1.83. Methanex has a fifty-two week low of $28.73 and a fifty-two week high of $54.83.

Methanex (NASDAQ:MEOH – Get Rating) (TSE:MX) last announced its quarterly earnings results on Wednesday, April 26th. The specialty chemicals company reported $1.11 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.19. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $944.88 million. Methanex had a return on equity of 10.80% and a net margin of 7.07%. The firm’s revenue for the quarter was down 11.7% compared to the same quarter last year. During the same period last year, the firm earned $2.16 EPS. Research analysts predict that Methanex will post 3.01 earnings per share for the current year.

Methanex Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.75%. This is a positive change from Methanex’s previous quarterly dividend of $0.18. The ex-dividend date is Thursday, June 15th. Methanex’s dividend payout ratio (DPR) is 18.72%.

About Methanex

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Methanex Corp. engages in the production and supply of methanol. The firm supplies in the international market such as North America, Asia Pacific, Europe, and South America. It also operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.