Methanex (NASDAQ:MEOH) Price Target Cut to $48.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective lowered by Jefferies Financial Group from $61.00 to $48.00 in a research note published on Monday morning, The Fly reports. Jefferies Financial Group currently has a hold rating on the specialty chemicals company’s stock. Jefferies Financial Group also issued estimates for Methanex’s Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.89 EPS, Q4 2019 earnings at $1.38 EPS, FY2019 earnings at $3.32 EPS, Q1 2020 earnings at $0.89 EPS, Q2 2020 earnings at $0.97 EPS, Q3 2020 earnings at $1.14 EPS, Q4 2020 earnings at $1.00 EPS and FY2020 earnings at $4.00 EPS.

A number of other research firms also recently commented on MEOH. BidaskClub downgraded Orthofix Medical from a buy rating to a hold rating in a research report on Monday, May 20th. ValuEngine downgraded Verso from a hold rating to a sell rating in a research report on Thursday, May 23rd. Zacks Investment Research downgraded Wix.Com from a hold rating to a sell rating in a research report on Monday, April 8th. UBS Group reiterated a buy rating and set a $124.00 target price on shares of Cie Gnrl des Etblsmnts Michelin SCA in a research report on Thursday, April 25th. Finally, Barclays reiterated an overweight rating and set a GBX 310 ($4.05) target price on shares of in a research report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $66.50.

Shares of MEOH opened at $42.36 on Monday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.77 and a current ratio of 1.08. Methanex has a 1 year low of $40.43 and a 1 year high of $83.23. The firm’s 50 day moving average is $44.13. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 6.17, a P/E/G ratio of 0.83 and a beta of 1.67.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Methanex had a net margin of 11.84% and a return on equity of 24.89%. The business had revenue of $773.00 million during the quarter, compared to analyst estimates of $790.00 million. During the same period last year, the firm posted $2.03 EPS. The company’s revenue was down 19.6% on a year-over-year basis. As a group, equities research analysts expect that Methanex will post 3.43 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Sunday, June 30th. Investors of record on Sunday, June 16th were given a $0.36 dividend. The ex-dividend date of this dividend was Thursday, June 13th. This is an increase from Methanex’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 3.40%. Methanex’s dividend payout ratio (DPR) is currently 20.99%.

A number of institutional investors and hedge funds have recently modified their holdings of MEOH. Norges Bank bought a new stake in Methanex in the fourth quarter worth $49,470,000. FIL Ltd lifted its position in Methanex by 145.0% in the first quarter. FIL Ltd now owns 1,679,092 shares of the specialty chemicals company’s stock worth $95,366,000 after buying an additional 993,793 shares during the last quarter. Millennium Management LLC lifted its position in Methanex by 298.6% in the fourth quarter. Millennium Management LLC now owns 635,587 shares of the specialty chemicals company’s stock worth $30,616,000 after buying an additional 476,114 shares during the last quarter. Fiera Capital Corp lifted its position in Methanex by 82.5% in the first quarter. Fiera Capital Corp now owns 806,944 shares of the specialty chemicals company’s stock worth $45,820,000 after buying an additional 364,841 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Methanex by 66.5% in the fourth quarter. Deutsche Bank AG now owns 637,836 shares of the specialty chemicals company’s stock worth $30,723,000 after buying an additional 254,815 shares during the last quarter. Institutional investors own 70.53% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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