Methanex (NASDAQ:MEOH) Reaches New 52-Week Low on Analyst Downgrade

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX's share price hit a new 52-week low during mid-day trading on Tuesday after UBS Group lowered their price target on the stock from $66.00 to $53.00. UBS Group currently has a buy rating on the stock. Methanex traded as low as $26.17 and last traded at $27.39, with a volume of 722022 shares. The stock had previously closed at $28.72.

Several other research firms have also recently weighed in on MEOH. CIBC decreased their price target on Methanex from $63.00 to $55.00 and set an "outperformer" rating for the company in a research note on Thursday, April 3rd. Raymond James upped their target price on shares of Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price target on shares of Methanex in a report on Tuesday, April 1st. Barclays lowered their price objective on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 1st. Finally, Scotiabank downgraded shares of Methanex from a "sector outperform" rating to a "sector perform" rating and cut their target price for the stock from $66.00 to $53.00 in a research report on Monday, March 10th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Methanex currently has a consensus rating of "Moderate Buy" and a consensus target price of $51.63.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MEOH. Wilmington Savings Fund Society FSB bought a new position in Methanex in the 3rd quarter worth $40,000. Parkside Financial Bank & Trust increased its position in Methanex by 39.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company's stock worth $101,000 after buying an additional 573 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Methanex in the fourth quarter worth about $106,000. State of Wyoming purchased a new position in shares of Methanex during the 4th quarter valued at about $129,000. Finally, Blue Trust Inc. grew its stake in shares of Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after acquiring an additional 371 shares during the period. 73.49% of the stock is currently owned by institutional investors.

Methanex Stock Up 1.4 %

The company has a market capitalization of $1.80 billion, a PE ratio of 11.53 and a beta of 1.06. The company's fifty day moving average is $39.15 and its 200-day moving average is $43.35. 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 data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, analysts predict that Methanex Co. will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued a dividend of $0.185 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 2.78%. Methanex's dividend payout ratio is presently 32.03%.

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.