Methanex (NASDAQ:MEOH) Sets New 1-Year Low - Here's Why

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX's share price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $35.67 and last traded at $36.80, with a volume of 1693906 shares changing hands. The stock had previously closed at $42.25.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MEOH. Scotiabank downgraded shares of Methanex from a "sector outperform" rating to a "sector perform" rating and lowered their target price for the stock from $66.00 to $53.00 in a research note on Monday. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. UBS Group boosted their price objective on Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Barclays upped their price target on shares of Methanex from $54.00 to $57.00 and gave the company an "equal weight" rating in a research report on Monday, February 10th. Finally, Raymond James upped their price objective on shares of Methanex from $54.00 to $60.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $60.63.

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Methanex Stock Up 2.6 %

The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 16.33 and a beta of 1.39. The firm's fifty day simple moving average is $46.92 and its two-hundred day simple moving average is $44.71.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings data 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%. Sell-side analysts anticipate that Methanex Co. will post 4.32 EPS for the current year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.96%. The ex-dividend date is Monday, March 17th. Methanex's payout ratio is 32.03%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Polar Asset Management Partners Inc. raised its position in Methanex by 81.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company's stock valued at $9,427,000 after buying an additional 84,462 shares during the period. Value Partners Investments Inc. boosted its stake 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 purchasing an additional 411 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Methanex by 26.6% in 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 boosted its holdings in Methanex by 98.4% in 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 during 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% during the fourth 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 worth $3,552,000 after purchasing an additional 965 shares during the period. Institutional investors and hedge funds own 73.49% of the company's stock.

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.