Methanex Co. (NASDAQ:MEOH) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have received a consensus rating of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $62.25.

MEOH has been the subject of a number of analyst reports. Barclays lifted their price objective on Methanex from $54.00 to $57.00 and gave the company an “equal weight” rating in a report on Monday. Raymond James lifted their price objective on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a report on Friday, January 31st. Piper Sandler lifted their price objective on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. Finally, StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th.

Methanex Stock Down 3.1 %

MEOH opened at $46.80 on Friday. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. The firm’s fifty day moving average price is $49.03 and its two-hundred day moving average price is $44.96. The company has a market capitalization of $3.15 billion, a P/E ratio of 20.26 and a beta of 1.36.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. On average, analysts anticipate that Methanex will post 4.2 EPS for the current year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be issued a $0.185 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.58%. Methanex’s dividend payout ratio is 32.03%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MEOH. Bank of New York Mellon Corp raised its holdings in Methanex by 4,776.7% during the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after purchasing an additional 881,823 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in Methanex during the 4th quarter worth about $38,301,000. Norges Bank bought a new stake in Methanex during the 4th quarter worth about $34,119,000. Raymond James Financial Inc. bought a new stake in Methanex during the 4th quarter worth about $14,327,000. Finally, Boston Partners raised its holdings in Methanex by 36.0% during the 4th quarter. Boston Partners now owns 989,534 shares of the specialty chemicals company’s stock worth $49,393,000 after purchasing an additional 262,087 shares during the last quarter. 73.49% of the stock is owned by institutional investors.

Methanex Company Profile

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.