Methanex Co. (NASDAQ:MEOH) Receives $60.63 Average Target Price from Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has received a consensus rating of “Moderate Buy” from the eight analysts that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $57.63.

MEOH has been the subject of several research analyst reports. Scotiabank downgraded shares of Methanex from a “sector outperform” rating to a “sector perform” rating and decreased their price target for the company from $66.00 to $53.00 in a research note on Monday, March 10th. Raymond James lifted their target price on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. UBS Group increased their price target on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a report on Tuesday, April 1st. Finally, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th.

Methanex Stock Performance

Shares of Methanex stock opened at $28.72 on Friday. Methanex has a 52 week low of $27.35 and a 52 week high of $56.43. The company has a market capitalization of $1.94 billion, a PE ratio of 12.43 and a beta of 1.06. The stock’s fifty day moving average is $42.47 and its two-hundred day moving average is $43.99. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS 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%. As a group, analysts expect that Methanex will post 4.32 earnings per share for the current year.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were paid a dividend of $0.185 per share. The ex-dividend date was Monday, March 17th. This represents a $0.74 annualized dividend and a dividend yield of 2.58%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

Hedge Funds Weigh In On Methanex

Several institutional investors and hedge funds have recently bought and sold shares of MEOH. Polar Asset Management Partners Inc. boosted its position in shares of Methanex by 81.0% in the 4th quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company’s stock worth $9,427,000 after purchasing an additional 84,462 shares in the last quarter. Value Partners Investments Inc. boosted its holdings in Methanex by 7.3% in the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company’s stock worth $302,000 after acquiring an additional 411 shares in the last quarter. Mackenzie Financial Corp grew its stake in shares of Methanex by 26.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock worth $53,770,000 after acquiring an additional 226,349 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Methanex by 98.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company’s stock valued at $2,616,000 after acquiring an additional 25,973 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Methanex by 1.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company’s stock valued at $3,552,000 after purchasing an additional 965 shares during the last quarter. 73.49% of the stock is owned by hedge funds and other institutional investors.

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.