Methanex (NASDAQ:MEOH) Stock Price Expected to Rise, UBS Group Analyst Says

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX had its target price boosted 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 points to a potential upside of 48.73% from the company's current price.

MEOH has been the subject of a number of other reports. Wall Street Zen lowered shares of Methanex from a "buy" rating to a "hold" rating in a research 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 target on the stock in a report on Monday, May 5th. Piper Sandler set a $48.00 price target on shares of Methanex and gave the stock an "overweight" rating in a report on Sunday, May 18th. Raymond James Financial dropped their target price on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada decreased their price target on shares of Methanex from $55.00 to $50.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. 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 MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

Methanex Stock Down 1.1%

Methanex stock traded down $0.37 during trading hours on Wednesday, hitting $34.29. The stock had a trading volume of 365,677 shares, compared to its average volume of 452,362. The stock's 50-day moving average price is $33.79 and its 200-day moving average price is $38.80. Methanex has a 12-month low of $25.46 and a 12-month high of $54.49. The stock has a market capitalization of $2.65 billion, a P/E ratio of 11.51 and a beta of 0.92. 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 (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. The company had revenue of $857.90 million during the quarter, compared to analyst estimates of $1.06 billion. Methanex had a net margin of 6.00% and a return on equity of 12.45%. The firm's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.65 earnings per share. Equities research analysts anticipate that Methanex will post 4.32 EPS for the current fiscal year.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Methanex during the second quarter worth approximately $33,000. SVB Wealth LLC acquired a new stake in shares of Methanex during the first quarter valued at $38,000. Caitong International Asset Management Co. Ltd purchased a new position in Methanex during the first quarter worth about $55,000. Headlands Technologies LLC purchased a new position in Methanex during the first quarter worth about $82,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Methanex during the fourth quarter worth about $106,000. 73.49% of the stock is owned by institutional investors and hedge funds.

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.