Methanex (NASDAQ:MEOH) Hits New 1-Year Low – What’s Next?

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) reached a new 52-week low on Tuesday . The company traded as low as $35.67 and last traded at $36.80, with a volume of 1693906 shares. The stock had previously closed at $42.25.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Raymond James lifted their price objective on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. UBS Group lifted their price objective on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Piper Sandler lifted their target price on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research note on Tuesday, November 19th. Barclays lifted their target price on shares of Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a research note on Monday, February 10th. Finally, Scotiabank cut shares of Methanex from a “sector outperform” rating to a “sector perform” rating and cut their target price for the company from $66.00 to $53.00 in a research note on Monday. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and a consensus price target of $60.63.

Methanex Stock Down 12.9 %

The firm’s 50-day simple moving average is $47.71 and its 200 day simple moving average is $44.89. The company has a market cap of $2.48 billion, a P/E ratio of 15.93 and a beta of 1.38. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) 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%. On average, research analysts forecast that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently announced 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. This represents a $0.74 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Monday, March 17th. Methanex’s payout ratio is presently 32.03%.

Hedge Funds Weigh In On Methanex

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. lifted its position in Methanex by 81.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company’s stock worth $9,427,000 after buying an additional 84,462 shares in the last quarter. Value Partners Investments Inc. lifted its position in Methanex by 7.3% during the 4th quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company’s stock worth $302,000 after buying an additional 411 shares in the last quarter. Mackenzie Financial Corp lifted its position in Methanex by 26.6% during the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock worth $53,770,000 after buying an additional 226,349 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Methanex by 98.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company’s stock worth $2,616,000 after buying an additional 25,973 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Methanex by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company’s stock worth $3,552,000 after buying an additional 965 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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.