Methanex (NASDAQ:MEOH) Given New $51.00 Price Target at UBS Group

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX had its price objective upped by stock analysts at UBS Group from $50.00 to $51.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "buy" rating on the specialty chemicals company's stock. UBS Group's price objective suggests a potential upside of 53.26% from the stock's previous close.

MEOH has been the topic of a number of other reports. Piper Sandler set a $48.00 price objective on Methanex and gave the stock an "overweight" rating in a research report on Sunday, May 18th. Royal Bank Of Canada decreased their price objective on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Wall Street Zen lowered shares of Methanex from a "buy" rating to a "hold" rating in a report on Thursday, May 1st. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 price objective for the company in a report on Monday, May 5th. 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. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $45.00.

Methanex Trading Down 2.1%

Shares of NASDAQ:MEOH traded down $0.70 during midday trading on Wednesday, hitting $33.28. 132,277 shares of the stock traded hands, compared to its average volume of 452,289. The stock has a market capitalization of $2.57 billion, a PE ratio of 11.18 and a beta of 0.92. The business's 50 day moving average is $33.88 and its two-hundred day moving average is $38.68. The company has a quick ratio of 2.52, a current ratio of 3.17 and a debt-to-equity ratio of 0.94. Methanex has a one year low of $25.46 and a one year high of $54.49.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a net margin of 6.00% and a return on equity of 12.45%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.65 earnings per share. As a group, research analysts forecast that Methanex will post 4.32 earnings per share for the current year.

Institutional Investors Weigh In On Methanex

Several hedge funds have recently bought and sold shares of MEOH. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Methanex during the second quarter worth about $33,000. SVB Wealth LLC bought a new position in Methanex during the 1st quarter valued at approximately $38,000. Caitong International Asset Management Co. Ltd bought a new position in Methanex during the 1st quarter valued at approximately $55,000. Headlands Technologies LLC bought a new position in Methanex during the 1st quarter valued at approximately $82,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Methanex during the 4th quarter valued at approximately $106,000. Institutional investors own 73.49% of the company's stock.

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.