ValuEngine upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a sell rating to a hold rating in a research report report published on Wednesday.
MEOH has been the subject of several other reports. Citigroup dropped their price objective on shares of Methanex from $84.00 to $72.00 and set a hold rating for the company in a research note on Monday, October 29th. TD Securities raised shares of Methanex from a hold rating to a buy rating and set a $77.00 price objective for the company in a research note on Friday, October 26th. They noted that the move was a valuation call. Tudor Pickering lowered shares of Methanex from a buy rating to a hold rating in a research note on Friday, February 1st. Zacks Investment Research lowered shares of Methanex from a hold rating to a sell rating in a research note on Wednesday, December 19th. Finally, Royal Bank of Canada dropped their price objective on shares of Methanex from $83.00 to $80.00 and set a sector perform rating for the company in a research note on Wednesday, November 28th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $78.43.
MEOH stock opened at $56.43 on Wednesday. Methanex has a fifty-two week low of $45.48 and a fifty-two week high of $83.23. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $4.16 billion, a P/E ratio of 8.23, a price-to-earnings-growth ratio of 0.66 and a beta of 1.62.
The business also recently announced a quarterly dividend, which will be paid on Sunday, March 31st. Stockholders of record on Sunday, March 17th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.34%. The ex-dividend date of this dividend is Thursday, March 14th. Methanex’s dividend payout ratio is currently 19.24%.
Institutional investors and hedge funds have recently modified their holdings of the company. Financial Gravity Companies Inc. purchased a new stake in shares of Methanex during the fourth quarter valued at $36,000. Quadrant Capital Group LLC boosted its stake in shares of Methanex by 415.7% during the fourth quarter. Quadrant Capital Group LLC now owns 1,671 shares of the specialty chemicals company’s stock valued at $78,000 after purchasing an additional 1,347 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Methanex during the third quarter valued at $181,000. NumerixS Investment Technologies Inc purchased a new stake in shares of Methanex during the fourth quarter valued at $225,000. Finally, Cumberland Partners Ltd purchased a new stake in shares of Methanex during the third quarter valued at $226,000. 72.00% of the stock is owned by hedge funds and other institutional investors.
Methanex Company Profile
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.
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