CIBC Has Lowered Expectations for Methanex (NASDAQ:MEOH) Stock Price

Methanex (NASDAQ:MEOH - Free Report) TSE: MX had its target price trimmed by CIBC from $63.00 to $55.00 in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has an outperformer rating on the specialty chemicals company's stock.

A number of other equities research analysts have also recently issued reports on MEOH. UBS Group upped their price objective on shares of Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada reissued a "sector perform" rating and set a $55.00 price objective on shares of Methanex in a report on Tuesday, April 1st. Barclays reduced their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. Raymond James increased their price target on Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. Finally, Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, December 10th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $51.63.

Methanex Stock Down 1.8 %

Shares of NASDAQ MEOH traded down $0.50 during mid-day trading on Thursday, reaching $26.90. The company had a trading volume of 462,920 shares, compared to its average volume of 347,406. The stock has a market capitalization of $1.81 billion, a PE ratio of 11.59 and a beta of 1.06. Methanex has a twelve month low of $26.17 and a twelve month high of $56.43. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock's 50 day moving average is $42.02 and its 200-day moving average is $43.93.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. As a group, equities analysts anticipate that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were given a $0.185 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.75%. Methanex's dividend payout ratio is 32.03%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its holdings in Methanex by 4,776.7% in the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company's stock valued at $44,960,000 after acquiring an additional 881,823 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Methanex in the fourth quarter valued at $38,301,000. Norges Bank bought a new position in Methanex in the fourth quarter worth $34,119,000. Encompass Capital Advisors LLC bought a new position in Methanex in the fourth quarter worth $26,835,000. Finally, Raymond James Financial Inc. bought a new stake in Methanex in the 4th quarter valued at $14,327,000. 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.