Raymond James Lowers Methanex (NASDAQ:MEOH) Price Target to $40.00

Methanex (NASDAQ:MEOH - Free Report) TSE: MX had its price objective cut by Raymond James from $62.00 to $40.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an outperform rating on the specialty chemicals company's stock. Raymond James also issued estimates for Methanex's Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.16 EPS, Q4 2025 earnings at $0.83 EPS, FY2025 earnings at $2.85 EPS and FY2026 earnings at $4.10 EPS.

A number of other brokerages have also weighed in on MEOH. UBS Group decreased their target price on Methanex from $66.00 to $53.00 and set a "buy" rating for the company in a research report on Monday, April 7th. Barclays reduced their price target on shares of Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a report on Tuesday, April 1st. 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. Piper Sandler lowered Methanex from an "overweight" rating to a "neutral" rating and lowered their target price for the stock from $71.00 to $36.00 in a report on Monday, April 7th. Finally, Scotiabank downgraded Methanex from a "sector outperform" rating to a "sector perform" rating and cut their price target for the company from $66.00 to $53.00 in a report on Monday, March 10th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $49.13.

Methanex Trading Up 0.7 %

Shares of MEOH stock traded up $0.18 on Tuesday, reaching $27.02. 923,996 shares of the company's stock were exchanged, compared to its average volume of 367,764. The company's fifty day simple moving average is $36.81 and its 200 day simple moving average is $42.84. The stock has a market capitalization of $1.82 billion, a PE ratio of 11.70 and a beta of 1.06. 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 has a 52 week low of $25.46 and a 52 week high of $56.43.

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

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Monday, March 17th were issued 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 2.74%. Methanex's payout ratio is 32.03%.

Institutional Trading of Methanex

Several institutional investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA grew its position in Methanex by 2.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock worth $573,000 after acquiring an additional 293 shares during the period. Blue Trust Inc. increased its position in shares of Methanex by 15.0% during the 4th quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock worth $142,000 after purchasing an additional 371 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Methanex by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock valued at $588,000 after buying an additional 383 shares during the period. PCJ Investment Counsel Ltd. lifted its position in Methanex by 3.6% in the fourth quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock valued at $589,000 after buying an additional 410 shares during the last quarter. Finally, Value Partners Investments Inc. boosted its stake in Methanex by 7.3% during the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company's stock worth $302,000 after buying an additional 411 shares during the period. Hedge funds and other institutional investors 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.