Methanex Co. (NASDAQ:MEOH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been given an average recommendation of “Moderate Buy” by the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $55.88.

MEOH has been the topic of several recent analyst reports. Raymond James reduced their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 11th. Piper Sandler raised their price objective on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a report on Tuesday, November 19th. Barclays lifted their target price on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. UBS Group decreased their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

Methanex Price Performance

Shares of MEOH stock opened at $46.88 on Monday. The stock’s fifty day simple moving average is $42.22 and its 200 day simple moving average is $45.54. Methanex has a one year low of $36.13 and a one year high of $56.43. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 21.91 and a beta of 1.36. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.185 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.58%. Methanex’s dividend payout ratio (DPR) is currently 34.58%.

Hedge Funds Weigh In On Methanex

Several large investors have recently made changes to their positions in MEOH. Truist Financial Corp raised its holdings in Methanex by 5.0% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock worth $300,000 after purchasing an additional 294 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of Methanex by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock worth $622,000 after buying an additional 411 shares during the last quarter. Bank of Hawaii lifted its holdings in Methanex by 4.2% in the third quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company’s stock valued at $474,000 after buying an additional 465 shares during the period. Value Partners Investments Inc. boosted its stake in Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after acquiring an additional 532 shares during the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in Methanex by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock worth $897,000 after acquiring an additional 707 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.