Methanex Co. (MEOH) Receives Average Rating of “Hold” from Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Hold” by the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $80.00.

Several analysts recently commented on MEOH shares. Raymond James raised Methanex from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $72.00 to $90.00 in a report on Thursday, September 13th. BidaskClub raised Methanex from a “hold” rating to a “buy” rating in a report on Saturday, September 15th. Monness Crespi & Hardt raised their target price on Methanex from $75.00 to $86.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Royal Bank of Canada raised their target price on Methanex from $78.00 to $83.00 and gave the stock a “sector perform” rating in a report on Monday, October 1st. Finally, ValuEngine raised Methanex from a “hold” rating to a “buy” rating in a report on Saturday, October 6th.

Shares of NASDAQ:MEOH traded down $0.90 during trading on Friday, hitting $54.90. The stock had a trading volume of 313,336 shares, compared to its average volume of 506,517. Methanex has a 12-month low of $45.48 and a 12-month high of $83.23. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.51 and a beta of 1.56. The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 0.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.99 by ($0.07). Methanex had a return on equity of 34.25% and a net margin of 12.48%. The firm had revenue of $1.04 billion during the quarter. As a group, equities analysts anticipate that Methanex will post 6.43 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 17th were issued a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 2.40%. The ex-dividend date was Friday, December 14th. Methanex’s payout ratio is currently 28.03%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC grew its holdings in Methanex by 9.0% in the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock valued at $192,573,000 after purchasing an additional 200,663 shares during the period. Vanguard Group Inc boosted its stake in shares of Methanex by 0.7% in the third quarter. Vanguard Group Inc now owns 2,201,920 shares of the specialty chemicals company’s stock worth $174,171,000 after acquiring an additional 16,112 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Methanex by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,201,920 shares of the specialty chemicals company’s stock worth $174,171,000 after acquiring an additional 16,112 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp boosted its stake in shares of Methanex by 8.3% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,079,600 shares of the specialty chemicals company’s stock worth $110,076,000 after acquiring an additional 82,500 shares during the last quarter. Finally, Canada Pension Plan Investment Board boosted its stake in shares of Methanex by 35.5% in the third quarter. Canada Pension Plan Investment Board now owns 815,579 shares of the specialty chemicals company’s stock worth $64,333,000 after acquiring an additional 213,820 shares during the last quarter. 71.13% of the stock is currently owned by institutional investors.

About Methanex

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

Further Reading: Trading Ex-Dividend Strategy

Analyst Recommendations for Methanex (NASDAQ:MEOH)

Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply