Methanex Co. (NASDAQ:MEOH) (TSE:MX)’s share price reached a new 52-week high during trading on Tuesday after Monness Crespi & Hardt raised their price target on the stock from $75.00 to $86.00. Monness Crespi & Hardt currently has a buy rating on the stock. Methanex traded as high as $81.00 and last traded at $80.05, with a volume of 31435 shares traded. The stock had previously closed at $79.05.
Several other equities analysts also recently commented on MEOH. TD Securities raised their target price on Methanex from $71.00 to $76.00 and gave the stock a “hold” rating in a research report on Wednesday, July 11th. ValuEngine downgraded Methanex from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. BidaskClub upgraded Methanex from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 13th. Zacks Investment Research upgraded Methanex from a “hold” rating to a “strong-buy” rating and set a $82.00 target price for the company in a research report on Tuesday, June 12th. Finally, Scotiabank raised their target price on Methanex from $69.50 to $70.00 and gave the stock a “sector perform” rating in a research report on Monday, June 4th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Methanex has an average rating of “Buy” and an average price target of $76.55.
A number of hedge funds have recently added to or reduced their stakes in MEOH. Candriam Luxembourg S.C.A. acquired a new stake in Methanex during the 1st quarter valued at $594,000. Brinker Capital Inc. acquired a new stake in Methanex during the 1st quarter valued at $281,000. JPMorgan Chase & Co. increased its holdings in Methanex by 100.7% during the 1st quarter. JPMorgan Chase & Co. now owns 331,540 shares of the specialty chemicals company’s stock valued at $20,108,000 after purchasing an additional 166,389 shares in the last quarter. Franklin Resources Inc. increased its holdings in Methanex by 44.6% during the 1st quarter. Franklin Resources Inc. now owns 397,115 shares of the specialty chemicals company’s stock valued at $24,032,000 after purchasing an additional 122,428 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its holdings in Methanex by 63.7% during the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 13,782 shares of the specialty chemicals company’s stock valued at $1,076,000 after purchasing an additional 5,361 shares in the last quarter. 75.87% of the stock is owned by hedge funds and other institutional investors.
The firm has a market cap of $6.21 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.81 and a beta of 1.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.18.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.75. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $872.10 million. During the same period last year, the firm posted $0.85 EPS. The business’s revenue was up 42.0% on a year-over-year basis. equities research analysts predict that Methanex Co. will post 6.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.69%. Methanex’s dividend payout ratio (DPR) is currently 28.03%.
Methanex Company Profile (NASDAQ:MEOH)
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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