Methanex Co. (NASDAQ:MEOH) Receives Average Recommendation of "Moderate Buy" from Brokerages

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX has been assigned an average recommendation of "Moderate Buy" from the eight ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $55.88.

Several research firms have weighed in on MEOH. UBS Group decreased their price target on shares of Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a research report on Thursday, November 7th. Piper Sandler lifted their target price on Methanex from $68.00 to $71.00 and gave the company an "overweight" rating in a research report on Tuesday, November 19th. Barclays boosted their price target on Methanex from $44.00 to $46.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Finally, Raymond James reduced their target price on shares of Methanex from $62.00 to $54.00 and set an "outperform" rating for the company in a report on Wednesday, September 11th.

Hedge Funds Weigh In On Methanex

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Methanex by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company's stock valued at $111,000,000 after purchasing an additional 43,178 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Methanex by 3.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company's stock valued at $622,000 after buying an additional 411 shares in the last quarter. Bayesian Capital Management LP bought a new stake in Methanex in the 1st quarter worth approximately $239,000. Virtu Financial LLC purchased a new stake in shares of Methanex during the 1st quarter worth approximately $462,000. Finally, Value Partners Investments Inc. boosted its position in shares of Methanex by 13.3% during the 2nd quarter. Value Partners Investments Inc. now owns 5,110 shares of the specialty chemicals company's stock valued at $247,000 after acquiring an additional 599 shares during the last quarter. Institutional investors own 73.49% of the company's stock.

Methanex Stock Performance

Shares of NASDAQ:MEOH traded up $0.89 during trading on Monday, hitting $46.91. The company's stock had a trading volume of 405,937 shares, compared to its average volume of 301,598. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 21.97 and a beta of 1.36. The company has a 50-day moving average of $41.51 and a 200-day moving average of $45.62. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Tuesday, December 17th. Methanex's payout ratio is currently 34.58%.

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.