Methanex (NASDAQ:MEOH) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of Methanex (NASDAQ:MEOH) (TSE:MX) in a research note issued to investors on Monday, TipRanks reports. Royal Bank of Canada currently has a $50.00 target price on the specialty chemicals company’s stock.

MEOH has been the topic of several other reports. Alembic Global Advisors set a $55.00 price target on Methanex and gave the company a hold rating in a research report on Monday, August 26th. TD Securities cut Methanex from a buy rating to a hold rating in a research report on Wednesday, November 27th. Cowen lowered their price target on Methanex from $39.00 to $38.00 and set a market perform rating on the stock in a research report on Tuesday, October 22nd. UBS Group lowered their price target on Methanex from $35.00 to $26.00 and set a sell rating on the stock in a research report on Thursday, August 29th. Finally, ValuEngine cut Methanex from a buy rating to a hold rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $47.08.

MEOH opened at $38.28 on Monday. Methanex has a 12 month low of $30.25 and a 12 month high of $62.97. The company has a debt-to-equity ratio of 1.38, a current ratio of 1.64 and a quick ratio of 1.34. The stock has a market cap of $2.78 billion, a P/E ratio of 5.58, a P/E/G ratio of 3.72 and a beta of 1.83. The stock’s 50 day moving average price is $38.17 and its 200 day moving average price is $38.42.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported ($0.27) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.31). Methanex had a net margin of 7.73% and a return on equity of 8.64%. The business had revenue of $650.00 million during the quarter, compared to analyst estimates of $634.75 million. During the same quarter in the prior year, the business earned $1.92 earnings per share. The firm’s revenue was down 37.7% compared to the same quarter last year. Equities analysts anticipate that Methanex will post 0.66 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, December 16th. Methanex’s payout ratio is 20.99%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Resources Investment Advisors LLC. acquired a new position in shares of Methanex in the 2nd quarter worth $36,000. Polaris Capital Management LLC acquired a new position in shares of Methanex in the 2nd quarter worth $43,000. FNY Investment Advisers LLC acquired a new position in shares of Methanex in the 3rd quarter worth $141,000. Tower Research Capital LLC TRC grew its holdings in shares of Methanex by 206.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,504 shares of the specialty chemicals company’s stock worth $159,000 after acquiring an additional 2,360 shares during the last quarter. Finally, Acorn Wealth Advisors LLC acquired a new position in shares of Methanex in the 3rd quarter worth $221,000. Institutional investors and hedge funds own 65.03% 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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