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

Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have received a consensus recommendation of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $48.00.

A number of research firms have weighed in on MEOH. UBS Group upped their price target on shares of Methanex from $48.00 to $53.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. Royal Bank Of Canada lifted their target price on shares of Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Canadian Imperial Bank of Commerce lowered Methanex from an “outperform” rating to a “neutral” rating and increased their price target for the stock from $46.00 to $52.00 in a research note on Friday, February 6th. JPMorgan Chase & Co. upgraded Methanex from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $33.00 to $38.00 in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Methanex in a research note on Monday, December 29th.

Methanex Stock Down 1.9%

MEOH stock opened at $47.81 on Wednesday. The business’s 50-day moving average price is $44.60 and its 200-day moving average price is $39.32. The stock has a market cap of $3.70 billion, a P/E ratio of 16.21 and a beta of 0.68. 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 twelve month low of $25.46 and a twelve month high of $51.94.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, March 17th. Methanex’s dividend payout ratio (DPR) is 25.08%.

Hedge Funds Weigh In On Methanex

Institutional investors have recently bought and sold shares of the stock. CWM LLC bought a new position in shares of Methanex during the 2nd quarter valued at about $33,000. NewEdge Advisors LLC bought a new stake in shares of Methanex in the second quarter worth about $50,000. Parkside Financial Bank & Trust lifted its position in shares of Methanex by 1,244.4% in the third quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock worth $53,000 after buying an additional 1,232 shares in the last quarter. Clearstead Advisors LLC boosted its stake in Methanex by 336.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock valued at $71,000 after buying an additional 1,375 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in Methanex by 131.5% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock valued at $99,000 after buying an additional 1,410 shares in the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).