Analysts Set Methanex Co. (NASDAQ:MEOH) PT at $60.63

Shares of Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX have received a consensus recommendation of "Moderate Buy" from the nine analysts that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $58.63.

MEOH has been the topic of a number of research reports. Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. Raymond James boosted their price objective on shares of Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 14th. CIBC reaffirmed an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. UBS Group increased their price target on Methanex from $53.00 to $66.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Finally, Scotiabank lowered shares of Methanex from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $66.00 to $53.00 in a report on Monday, March 10th.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Wellington Management Group LLP raised its stake in shares of Methanex by 1.3% during the fourth quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company's stock valued at $241,549,000 after acquiring an additional 62,467 shares during the last quarter. FMR LLC grew its position in shares of Methanex by 3.0% in the 4th quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company's stock worth $166,384,000 after buying an additional 95,950 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Methanex by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company's stock valued at $105,779,000 after buying an additional 37,658 shares during the period. Mackenzie Financial Corp raised its holdings 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 valued at $53,770,000 after acquiring an additional 226,349 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Methanex by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company's stock worth $52,334,000 after acquiring an additional 50,075 shares during the period. Hedge funds and other institutional investors own 73.49% of the company's stock.

Methanex Price Performance

NASDAQ:MEOH traded down $0.29 on Friday, hitting $34.05. The company had a trading volume of 350,314 shares, compared to its average volume of 340,564. The firm has a 50 day moving average of $43.31 and a two-hundred day moving average of $44.12. The stock has a market capitalization of $2.29 billion, a price-to-earnings ratio of 14.74 and a beta of 1.38. Methanex has a 52 week low of $33.83 and a 52 week high of $56.43. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, topping analysts' consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. On average, research analysts anticipate that Methanex will post 4.32 earnings per share for the current year.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date was Monday, March 17th. Methanex's payout ratio is currently 32.03%.

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.