UBS Group Lowers Methanex (NASDAQ:MEOH) Price Target to $53.00

Methanex (NASDAQ:MEOH - Free Report) TSE: MX had its price target decreased by UBS Group from $66.00 to $53.00 in a report published on Monday,Benzinga reports. UBS Group currently has a buy rating on the specialty chemicals company's stock.

MEOH has been the topic of a number of other research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $55.00 target price on shares of Methanex in a research note on Tuesday, April 1st. Piper Sandler lowered shares of Methanex from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $71.00 to $36.00 in a report on Monday, April 7th. Barclays lowered their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. Raymond James upped their target price on Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. Finally, CIBC dropped their price target on shares of Methanex from $63.00 to $55.00 and set an "outperformer" rating on the stock in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Methanex has a consensus rating of "Moderate Buy" and a consensus target price of $51.63.

Remove Ads

Methanex Price Performance

Shares of Methanex stock traded up $0.36 on Monday, reaching $26.64. 844,540 shares of the stock were exchanged, compared to its average volume of 358,526. The firm's 50 day moving average is $39.15 and its 200-day moving average is $43.35. The firm has a market cap of $1.80 billion, a PE ratio of 11.53 and a beta of 1.06. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. Methanex has a one year low of $25.46 and a one year 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 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%. As a group, analysts anticipate that Methanex will post 4.32 EPS for the current fiscal year.

Methanex Announces Dividend

The company also recently declared 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 was Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.78%. Methanex's payout ratio is currently 32.03%.

Institutional Investors Weigh In On Methanex

Institutional investors and hedge funds have recently made changes to their positions in the business. Polar Asset Management Partners Inc. boosted its holdings in Methanex by 81.0% during the 4th quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company's stock worth $9,427,000 after acquiring an additional 84,462 shares during the last quarter. Value Partners Investments Inc. raised its stake in shares of Methanex by 7.3% during the 4th 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 during the period. Mackenzie Financial Corp increased its holdings in Methanex by 26.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company's stock worth $53,770,000 after buying an additional 226,349 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Methanex by 98.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company's stock worth $2,616,000 after buying 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 Methanex by 1.4% in 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 acquiring an additional 965 shares during the period. 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.