Methanex Co. (NASDAQ:MEOH) Receives Average Rating of "Moderate Buy" from Analysts

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX has received a consensus rating of "Moderate Buy" from the eight research firms that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $57.25.

MEOH has been the topic of several analyst reports. Raymond James lowered their price target on Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a report on Wednesday, September 11th. CIBC reiterated an "outperformer" rating and issued a $59.00 target price (up from $48.00) on shares of Methanex in a research note on Tuesday, December 10th. Barclays boosted their target price on shares of Methanex from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a research report on Tuesday, September 3rd. Finally, UBS Group dropped their price objective on Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th.

Methanex Stock Up 1.0 %

Shares of MEOH traded up $0.46 during trading hours on Friday, hitting $46.38. 248,267 shares of the company were exchanged, compared to its average volume of 304,147. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. The company has a market cap of $3.13 billion, a PE ratio of 21.67 and a beta of 1.40. The firm's 50 day moving average is $43.48 and its 200-day moving average is $44.92. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.185 dividend. The ex-dividend date is Tuesday, December 17th. This represents a $0.74 annualized dividend and a yield of 1.60%. Methanex's dividend payout ratio (DPR) is 34.58%.

Institutional Trading of Methanex

Several institutional investors have recently modified their holdings of MEOH. Toronto Dominion Bank increased its stake in Methanex by 19.6% in the second quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company's stock valued at $1,604,000 after acquiring an additional 5,451 shares during the period. Point72 Asset Management L.P. boosted its holdings in Methanex by 1,495.7% during the third quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company's stock valued at $5,739,000 after purchasing an additional 130,127 shares in the last quarter. Millennium Management LLC grew its stake in shares of Methanex by 13.0% in the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company's stock valued at $24,551,000 after purchasing an additional 58,719 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Methanex in the 2nd quarter worth approximately $201,000. Finally, Truist Financial Corp lifted its position in shares of Methanex by 5.0% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company's stock worth $300,000 after buying an additional 294 shares during the period. Institutional investors and hedge funds own 73.49% of the company's stock.

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.