CIBC Issues Pessimistic Forecast for Methanex (NASDAQ:MEOH) Stock Price

Methanex (NASDAQ:MEOH - Free Report) TSE: MX had its price objective reduced by CIBC from $47.00 to $44.00 in a research report sent to investors on Monday, MarketBeat.com reports. They currently have an outperformer rating on the specialty chemicals company's stock.

Other equities research analysts also recently issued reports about the stock. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective on the stock in a research note on Monday. Royal Bank of Canada lowered their target price on Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. StockNews.com downgraded shares of Methanex from a "buy" rating to a "hold" rating in a research note on Thursday, May 1st. UBS Group decreased their price target on shares of Methanex from $53.00 to $51.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, Barclays dropped their price objective on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 1st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $46.88.

Methanex Stock Performance

MEOH stock traded up $0.47 during mid-day trading on Monday, hitting $32.84. 21,981 shares of the company were exchanged, compared to its average volume of 384,743. Methanex has a 1-year low of $25.46 and a 1-year high of $56.43. The stock has a market capitalization of $2.21 billion, a PE ratio of 14.22 and a beta of 0.93. The business has a 50 day simple moving average of $33.16 and a 200-day simple moving average of $41.82. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.05. The business had revenue of $857.90 million during the quarter, compared to analysts' expectations of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the firm posted $0.65 EPS. On average, equities analysts forecast that Methanex will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

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

Institutional Investors Weigh In On Methanex

Large investors have recently added to or reduced their stakes in the company. US Bancorp DE grew its stake in Methanex by 35.7% during the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company's stock valued at $941,000 after acquiring an additional 4,952 shares in the last quarter. Vanguard Group Inc. increased its stake in Methanex by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock worth $105,779,000 after purchasing an additional 37,658 shares during the period. Geode Capital Management LLC boosted its stake in shares of Methanex by 1.2% during the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company's stock valued at $4,340,000 after purchasing an additional 1,203 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in 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 buying an additional 1,245 shares during the last quarter. Finally, Barclays PLC boosted its position in Methanex by 64.9% during the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock valued at $845,000 after buying an additional 8,047 shares during the period. Hedge funds and other institutional investors own 73.49% of the company's stock.

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.