Methanex Co. (NASDAQ:MEOH) Receives $56.38 Consensus PT from Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Moderate Buy” by the eight ratings firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $56.38.

Several research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Scotiabank boosted their price objective on shares of Methanex from $54.00 to $58.00 and gave the stock a “sector outperform” rating in a research note on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research note on Friday, June 28th. Piper Sandler restated a “neutral” rating and set a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. Finally, Jefferies Financial Group upped their price target on shares of Methanex from $56.00 to $60.00 and gave the company a “buy” rating in a research note on Monday, June 10th.

Institutional Trading of Methanex

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Methanex by 1.7% in 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. AGF Management Ltd. purchased a new stake in shares of Methanex in the 4th quarter valued at $5,209,000. FIL Ltd boosted its holdings in shares of Methanex by 4.9% in the 4th quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after acquiring an additional 346,475 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Methanex by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,018,835 shares of the specialty chemicals company’s stock valued at $90,949,000 after acquiring an additional 32,244 shares during the last quarter. Finally, Citigroup Inc. boosted its holdings in shares of Methanex by 40.2% in the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock valued at $183,000 after acquiring an additional 1,158 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Price Performance

Shares of MEOH opened at $48.16 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 1.17. The stock has a market capitalization of $3.25 billion, a PE ratio of 20.41 and a beta of 1.39. The company has a 50 day moving average price of $50.33 and a 200-day moving average price of $47.35. Methanex has a fifty-two week low of $38.31 and a fifty-two week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.30 by $0.35. The firm had revenue of $916.00 million during the quarter, compared to analyst estimates of $908.50 million. Methanex had a net margin of 4.63% and a return on equity of 5.38%. Equities analysts predict that Methanex will post 2.22 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, June 14th. Methanex’s dividend payout ratio (DPR) is currently 31.36%.

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.