Methanex (MEOH) Upgraded to Hold at ValuEngine

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.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, January 30th. The specialty chemicals company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.60). Methanex had a net margin of 14.48% and a return on equity of 31.00%. The business had revenue of $977.00 million during the quarter, compared to analysts’ expectations of $986.13 million. During the same period last year, the business posted $1.70 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Analysts predict that Methanex will post 5.34 earnings per share for the current year.

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.

Further Reading: What are convertible shares? 

To view ValuEngine’s full report, visit ValuEngine’s official website.

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