Methanex (NASDAQ:MEOH) Given New $50.00 Price Target at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective trimmed by UBS Group from $51.00 to $50.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

Other equities analysts also recently issued research reports about the stock. CIBC cut their price target on shares of Methanex from $47.00 to $44.00 and set an “outperformer” rating on the stock in a research note on Monday, May 5th. Scotiabank raised shares of Methanex from a “sector perform” rating to a “sector outperform” rating and set a $53.00 price target on the stock in a research note on Monday, May 5th. Royal Bank of Canada cut their price target on shares of Methanex from $55.00 to $50.00 and set a “sector perform” rating on the stock in a research note on Friday, May 2nd. Raymond James cut their target price on shares of Methanex from $62.00 to $40.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler downgraded shares of Methanex from an “overweight” rating to a “neutral” rating and cut their target price for the company from $71.00 to $36.00 in a research note on Monday, April 7th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Methanex Stock Performance

Shares of MEOH opened at $34.96 on Tuesday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of 15.13 and a beta of 0.93. The company’s 50 day simple moving average is $32.55 and its 200 day simple moving average is $41.64. Methanex has a 1 year low of $25.46 and a 1 year high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.05. The company had revenue of $857.90 million for the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Methanex’s revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 earnings per share. On average, sell-side analysts predict that Methanex will post 4.32 EPS for the current year.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 16th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Monday, June 16th. Methanex’s payout ratio is 24.83%.

Institutional Investors Weigh In On Methanex

Large investors have recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd acquired a new position in Methanex during the 1st quarter worth $55,000. Headlands Technologies LLC acquired a new position in Methanex during the 1st quarter worth $82,000. Parkside Financial Bank & Trust grew its holdings in Methanex by 39.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock worth $101,000 after acquiring an additional 573 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Methanex during the 4th quarter worth $106,000. Finally, Deutsche Bank AG grew its holdings in Methanex by 19.9% during the 1st quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 500 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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.