Methanex Co. (NASDAQ:MEOH) Given Average Recommendation of "Moderate Buy" by Brokerages

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX has received a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $48.25.

Several research analysts recently commented on the stock. Piper Sandler set a $48.00 target price on shares of Methanex and gave the stock an "overweight" rating in a report on Sunday. Barclays reduced their target price on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. UBS Group reduced their target price on shares of Methanex from $51.00 to $50.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Scotiabank upgraded shares of 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. Finally, Royal Bank of Canada decreased their target price on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd.

Hedge Funds Weigh In On Methanex

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Pictet Asset Management Holding SA boosted its position in Methanex by 2.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock worth $573,000 after purchasing an additional 293 shares during the period. Blue Trust Inc. boosted its position in Methanex by 15.0% during the fourth 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 during the period. Ameriprise Financial Inc. boosted its position in Methanex by 3.4% during the fourth quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock worth $588,000 after purchasing an additional 383 shares during the period. PCJ Investment Counsel Ltd. boosted its position in Methanex by 3.6% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock worth $589,000 after purchasing an additional 410 shares during the period. Finally, Value Partners Investments Inc. lifted its holdings in shares of Methanex by 7.3% during the fourth 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. 73.49% of the stock is owned by institutional investors.

Methanex Stock Up 0.0%

NASDAQ MEOH traded up $0.01 during trading hours on Monday, reaching $32.87. 452,746 shares of the company's stock were exchanged, compared to its average volume of 394,198. The company's 50-day moving average is $31.84 and its two-hundred day moving average is $41.29. Methanex has a one year low of $25.46 and a one year high of $54.49. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 14.23 and a beta of 0.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $1.06 billion. During the same period in the prior year, the business earned $0.65 EPS. Methanex's revenue for the quarter was down 2.2% compared to the same quarter last year. On average, analysts forecast that Methanex will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.25%. Methanex's dividend payout ratio (DPR) is 24.83%.

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.