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

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been assigned an average rating of “Moderate Buy” from the seven analysts that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $53.50.

MEOH has been the topic of several analyst reports. UBS Group upgraded Methanex from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $51.00 to $60.00 in a report on Thursday, February 8th. TheStreet upgraded Methanex from a “c” rating to a “b-” rating in a report on Thursday, January 11th. Piper Sandler restated a “neutral” rating and set a $50.00 price objective on shares of Methanex in a report on Thursday, March 7th. Barclays raised their price objective on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Monday, February 12th. Finally, Raymond James decreased their price objective on Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a report on Wednesday, February 21st.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. raised its position in Methanex by 5.3% in the first quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,066,683 shares of the specialty chemicals company’s stock valued at $47,589,000 after purchasing an additional 53,219 shares during the period. Vanguard Group Inc. raised its position in Methanex by 21.1% in the fourth quarter. Vanguard Group Inc. now owns 2,443,939 shares of the specialty chemicals company’s stock valued at $115,745,000 after purchasing an additional 425,104 shares during the period. Wellington Management Group LLP raised its position in Methanex by 15.2% in the fourth quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock valued at $216,043,000 after purchasing an additional 599,778 shares during the period. Goldman Sachs Group Inc. raised its position in Methanex by 113.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 224,202 shares of the specialty chemicals company’s stock valued at $10,618,000 after purchasing an additional 118,920 shares during the period. Finally, FIL Ltd raised its position in Methanex by 4.9% in the fourth quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after purchasing an additional 346,475 shares during the period. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Price Performance

Shares of NASDAQ:MEOH opened at $47.91 on Friday. The business’s fifty day moving average price is $45.37 and its two-hundred day moving average price is $44.57. The stock has a market cap of $3.23 billion, a PE ratio of 19.48 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 1.14. Methanex has a one year low of $38.18 and a one year high of $51.42.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.24. The firm had revenue of $922.00 million for the quarter, compared to analysts’ expectations of $901.21 million. Methanex had a return on equity of 6.71% and a net margin of 4.67%. On average, analysts forecast that Methanex will post 2.35 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.54%. The ex-dividend date was Wednesday, March 13th. Methanex’s dividend payout ratio (DPR) is presently 30.08%.

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.