Methanex Co. (NASDAQ:MEOH) Receives $57.25 Average PT from Brokerages

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have been assigned an average recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $57.25.

Several equities research analysts have recently commented on MEOH shares. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Raymond James reduced their target price on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a report on Wednesday, September 11th. Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. CIBC restated an “outperformer” rating and issued a $59.00 price objective (up from $48.00) on shares of Methanex in a research note on Tuesday, December 10th. Finally, UBS Group lowered their target price on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th.

Methanex Stock Up 0.0 %

Methanex stock opened at $48.45 on Friday. Methanex has a one year low of $36.13 and a one year high of $56.43. The stock has a fifty day moving average of $44.12 and a 200 day moving average of $44.82. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. The stock has a market cap of $3.26 billion, a PE ratio of 22.64 and a beta of 1.40.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.185 per share. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.53%. Methanex’s dividend payout ratio is presently 34.58%.

Hedge Funds Weigh In On Methanex

A number of hedge funds have recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Methanex during the 3rd quarter valued at approximately $40,000. Blue Trust Inc. grew its holdings in Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after buying an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Methanex by 572.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after buying an additional 1,626 shares in the last quarter. Squarepoint Ops LLC purchased a new position in shares of Methanex in the second quarter worth $201,000. Finally, Value Partners Investments Inc. grew its stake in Methanex by 10.4% during the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after acquiring an additional 532 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

About Methanex

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.