Methanex Co. (NASDAQ:MEOH) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX have been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $46.75.

MEOH has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. UBS Group dropped their target price on shares of Methanex from $51.00 to $50.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Scotiabank raised Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 target price for the company in a report on Monday, May 5th. Raymond James decreased their price target on Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, CIBC cut their price objective on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research report on Monday, May 5th.

Institutional Investors Weigh In On Methanex

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE lifted its position in shares of Methanex by 35.7% during the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock worth $941,000 after acquiring an additional 4,952 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Methanex by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock valued at $105,779,000 after purchasing an additional 37,658 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Methanex by 17.6% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company's stock valued at $415,000 after purchasing an additional 1,245 shares during the period. Blue Trust Inc. lifted its holdings in Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 371 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new position in Methanex in the 4th quarter worth about $1,170,000. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Stock Performance

Shares of MEOH opened at $33.57 on Monday. The firm has a market capitalization of $2.26 billion, a P/E ratio of 14.53 and a beta of 0.93. Methanex has a 52 week low of $25.46 and a 52 week high of $56.43. The stock has a 50 day moving average price of $32.26 and a two-hundred day moving average price of $41.53. 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 - Get Free Report) TSE: MX last announced its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.25 by $0.05. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The business had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the company posted $0.65 earnings per share. Methanex's revenue was down 2.2% compared to the same quarter last year. Equities analysts forecast that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 2.20%. Methanex's dividend payout ratio is presently 24.83%.

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.

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