Methanex Corporation (NASDAQ:MEOH) Receives $66.78 Consensus Price Target from Brokerages

Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $66.7778.

A number of research analysts have recently issued reports on the company. Raymond James Financial increased their target price on Methanex from $52.00 to $65.00 and gave the company a “market perform” rating in a research report on Thursday, April 16th. UBS Group increased their target price on Methanex from $70.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Jefferies Financial Group increased their target price on Methanex from $50.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, March 11th. Weiss Ratings lowered Methanex from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered Methanex from a “strong-buy” rating to a “hold” rating in a research report on Monday.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC acquired a new position in Methanex in the 2nd quarter valued at $50,000. Clearstead Advisors LLC increased its stake in shares of Methanex by 336.2% in the 4th quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock worth $71,000 after acquiring an additional 1,375 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Methanex by 61.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock worth $85,000 after acquiring an additional 812 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Methanex by 131.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock worth $99,000 after acquiring an additional 1,410 shares during the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Methanex by 1,087.3% in the 1st quarter. Fifth Third Bancorp now owns 3,823 shares of the specialty chemicals company’s stock worth $228,000 after acquiring an additional 3,501 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

Methanex Stock Performance

MEOH opened at $48.52 on Tuesday. Methanex has a 52-week low of $32.00 and a 52-week high of $66.75. The company has a quick ratio of 1.26, a current ratio of 1.96 and a debt-to-equity ratio of 0.98. The company has a market cap of $3.75 billion, a P/E ratio of -99.02 and a beta of 0.56. The firm’s 50-day moving average price is $59.09 and its 200-day moving average price is $52.60.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). The company had revenue of $957.42 million for the quarter, compared to analyst estimates of $964.76 million. Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.30 EPS. As a group, equities analysts anticipate that Methanex will post 8.18 EPS for the current fiscal year.

Methanex Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, June 16th. Methanex’s dividend payout ratio is currently -151.02%.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).