Methanex Corporation (NASDAQ:MEOH) Given Average Recommendation of “Moderate Buy” by Brokerages

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) has received a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $46.5455.

MEOH has been the subject of several research reports. JPMorgan Chase & Co. upgraded Methanex from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $33.00 to $38.00 in a research report on Friday, October 31st. Zacks Research downgraded Methanex from a “hold” rating to a “strong sell” rating in a report on Thursday, November 13th. National Bankshares set a $47.00 price target on Methanex and gave the company an “outperform” rating in a research report on Thursday, September 25th. Jefferies Financial Group boosted their price objective on Methanex from $45.00 to $53.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Finally, CIBC reaffirmed an “outperform” rating on shares of Methanex in a research note on Monday, November 17th.

Methanex Stock Up 0.1%

Shares of Methanex stock opened at $37.38 on Friday. The firm has a market cap of $2.89 billion, a P/E ratio of 12.67 and a beta of 0.77. The business has a 50-day moving average price of $36.53 and a 200 day moving average price of $35.47. The company has a quick ratio of 1.33, a current ratio of 2.09 and a debt-to-equity ratio of 0.97. Methanex has a fifty-two week low of $25.46 and a fifty-two week high of $54.49.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.45). Methanex had a return on equity of 9.07% and a net margin of 5.97%.The company had revenue of $924.87 million for the quarter, compared to analyst estimates of $977.82 million. During the same quarter in the previous year, the company posted $1.21 earnings per share. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. On average, sell-side analysts forecast that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be issued a $0.185 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.0%. Methanex’s dividend payout ratio is currently 25.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG grew its stake in shares of Methanex by 19.9% in the first quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 500 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Methanex by 33.3% in the 3rd quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock valued at $80,000 after purchasing an additional 500 shares during the period. Value Partners Investments Inc. grew its position in Methanex by 3.0% in the 3rd quarter. Value Partners Investments Inc. now owns 19,842 shares of the specialty chemicals company’s stock worth $789,000 after purchasing an additional 570 shares during the last quarter. Amundi increased its holdings in shares of Methanex by 3.9% during the 1st quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock worth $800,000 after purchasing an additional 848 shares during the period. Finally, Ameriprise Financial Inc. raised its position in shares of Methanex by 4.5% during the third quarter. Ameriprise Financial Inc. now owns 20,636 shares of the specialty chemicals company’s stock valued at $820,000 after buying an additional 898 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

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.