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

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been given a consensus recommendation of “Moderate Buy” by the eight research firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $62.25.

Several research analysts have recently weighed in on MEOH shares. Piper Sandler boosted their price objective on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Barclays upped their price objective on Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Friday, January 31st. Finally, CIBC lifted their price objective on shares of Methanex from $59.00 to $63.00 and gave the stock an “outperformer” rating in a research report on Monday, February 3rd.

Institutional Trading of Methanex

A number of institutional investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB acquired a new stake in shares of Methanex in the third quarter valued at approximately $40,000. Parkside Financial Bank & Trust raised its holdings in Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock valued at $101,000 after acquiring an additional 573 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Methanex by 56.8% during the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock valued at $102,000 after acquiring an additional 896 shares during the period. SBI Securities Co. Ltd. bought a new position in shares of Methanex in the fourth quarter worth $166,000. Finally, Signaturefd LLC increased its position in shares of Methanex by 15.0% in the fourth quarter. Signaturefd LLC now owns 3,452 shares of the specialty chemicals company’s stock worth $172,000 after purchasing an additional 450 shares during the period. Institutional investors own 73.49% of the company’s stock.

Methanex Stock Performance

Shares of NASDAQ MEOH opened at $46.06 on Friday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a 50 day moving average price of $49.02 and a 200 day moving average price of $44.99. The stock has a market capitalization of $3.10 billion, a PE ratio of 19.94 and a beta of 1.36. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Analysts predict that Methanex will post 4.2 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.61%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

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.