Methanex Co. (NASDAQ:MEOH) Receives $53.50 Average Price Target from Brokerages

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX has been assigned a consensus recommendation of "Moderate Buy" from the seven brokerages that are covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $53.50.

A number of brokerages have weighed in on MEOH. Barclays boosted their target price on shares of Methanex from $53.00 to $56.00 and gave the stock an "overweight" rating in a research note on Monday, February 12th. UBS Group upgraded shares of Methanex from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $51.00 to $60.00 in a research report on Thursday, February 8th. Raymond James lowered their price target on shares of Methanex from $67.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. TheStreet upgraded shares of Methanex from a "c" rating to a "b-" rating in a report on Thursday, January 11th. Finally, CIBC boosted their price objective on shares of Methanex from $46.00 to $48.00 and gave the company a "neutral" rating in a report on Wednesday, January 10th.

Institutional Trading of Methanex

A number of institutional investors have recently made changes to their positions in the business. FIL Ltd lifted its position in shares of Methanex by 4.9% in the fourth quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company's stock worth $349,868,000 after purchasing an additional 346,475 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of 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 worth $216,043,000 after purchasing an additional 599,778 shares in the last quarter. Vanguard Group Inc. raised its position in Methanex by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 2,443,939 shares of the specialty chemicals company's stock worth $115,745,000 after acquiring an additional 425,104 shares in the last quarter. Mackenzie Financial Corp raised its position in Methanex by 60.7% during the first quarter. Mackenzie Financial Corp now owns 1,631,060 shares of the specialty chemicals company's stock worth $89,072,000 after acquiring an additional 616,146 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in Methanex by 1.0% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,050,158 shares of the specialty chemicals company's stock worth $47,323,000 after acquiring an additional 10,824 shares in the last quarter. Institutional investors own 73.49% of the company's stock.

Methanex Price Performance

Shares of NASDAQ MEOH traded down $0.87 during trading on Friday, reaching $47.91. The company had a trading volume of 442,807 shares, compared to its average volume of 325,030. Methanex has a 52 week low of $38.18 and a 52 week high of $51.42. 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. The business's 50 day moving average price is $45.15 and its 200-day moving average price is $44.47.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.28 by $0.24. Methanex had a net margin of 4.67% and a return on equity of 6.71%. The company had revenue of $922.00 million during the quarter, compared to the consensus estimate of $901.21 million. Analysts expect that Methanex will post 2.15 earnings per share for the current year.

Methanex Dividend Announcement

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

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.