Brokerages Set Methanex Co. (NASDAQ:MEOH) Target Price at $56.75

Shares of Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX have been assigned an average recommendation of "Moderate Buy" from the eight analysts that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $56.75.

Several research firms have recently weighed in on MEOH. Piper Sandler raised Methanex from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $50.00 to $51.00 in a research report on Wednesday, August 7th. Scotiabank increased their price target on Methanex from $58.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Wednesday, July 10th. Jefferies Financial Group lifted their price objective on shares of Methanex from $56.00 to $60.00 and gave the company a "buy" rating in a research note on Monday, June 10th. UBS Group cut their target price on shares of Methanex from $64.00 to $62.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a research note on Thursday, August 1st.

Methanex Trading Down 0.9 %

MEOH stock traded down $0.40 during trading on Friday, hitting $45.07. The company had a trading volume of 240,507 shares, compared to its average volume of 283,339. The stock has a market cap of $3.04 billion, a PE ratio of 19.10 and a beta of 1.39. The business has a 50-day moving average of $47.69 and a 200-day moving average of $47.53. The company has a current ratio of 1.25, a quick ratio of 0.85 and a debt-to-equity ratio of 0.80. Methanex has a one year low of $38.31 and a one year high of $56.43.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.10. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The company had revenue of $920.00 million for the quarter, compared to analyst estimates of $954.26 million. During the same period in the prior year, the firm posted $0.60 EPS. The company's quarterly revenue was down 2.0% on a year-over-year basis. Research analysts predict that Methanex will post 2.22 earnings per share for the current fiscal year.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, September 16th. Methanex's dividend payout ratio is currently 31.36%.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Headlands Technologies LLC boosted its position in shares of Methanex by 346.5% during the first quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company's stock valued at $40,000 after buying an additional 700 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Methanex in the first quarter valued at about $45,000. Blue Trust Inc. lifted its position in shares of Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock valued at $70,000 after purchasing an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock worth $93,000 after purchasing an additional 1,626 shares during the last quarter. Finally, U S Global Investors Inc. purchased a new position in Methanex during the first quarter worth about $178,000. 73.49% of the stock is owned by institutional investors.

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.