Methanex (NASDAQ:MEOH) Price Target Raised to $62.00 at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its target price lifted by equities research analysts at UBS Group from $59.00 to $62.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price target suggests a potential upside of 28.44% from the stock’s previous close.

MEOH has been the subject of several other reports. Piper Sandler restated a “neutral” rating and set a $50.00 price target on shares of Methanex in a research report on Thursday, March 7th. Raymond James decreased their price target on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $45.00 price objective on shares of Methanex in a research report on Wednesday, April 3rd. Barclays boosted their target price on Methanex from $53.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, February 12th. Finally, CIBC upped their target price on shares of Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 10th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and an average target price of $54.38.

Methanex Trading Up 1.0 %

Shares of MEOH stock opened at $48.27 on Thursday. Methanex has a twelve month low of $38.18 and a twelve month high of $51.42. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 20.45 and a beta of 1.50. The company’s 50-day moving average price is $45.55 and its 200-day moving average price is $44.73. The company has a current ratio of 1.17, a quick ratio of 0.81 and a debt-to-equity ratio of 0.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.28 by $0.24. The firm had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. Methanex had a net margin of 4.63% and a return on equity of 5.38%. As a group, equities analysts predict that Methanex will post 2.35 earnings per share for the current year.

Hedge Funds Weigh In On Methanex

Several hedge funds and other institutional investors have recently bought and sold shares of the company. U S Global Investors Inc. acquired a new position in shares of Methanex during the 1st quarter worth $178,000. Citigroup Inc. lifted its position in shares of Methanex by 40.2% in the third quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock valued at $183,000 after acquiring an additional 1,158 shares in the last quarter. Ausbil Investment Management Ltd acquired a new stake in shares of Methanex during the fourth quarter valued at $195,000. Advisor Partners II LLC acquired a new position in Methanex in the 3rd quarter valued at about $209,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Methanex in the 3rd quarter valued at about $216,000. 73.49% of the stock is owned by institutional investors and hedge funds.

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.