Methanex Corp. (NASDAQ:MEOH) had its price target hoisted by BMO Capital Markets from $36.00 to $40.00 in a research note issued to investors on Thursday. The brokerage currently has an outperform rating on the stock.
Other research analysts have also issued research reports about the company. Citigroup Inc. restated a hold rating and set a $31.00 price objective (down previously from $35.00) on shares of Methanex Corp. in a research report on Friday, July 15th. Jefferies Group restated a buy rating and set a $41.00 price objective on shares of Methanex Corp. in a research report on Wednesday, June 15th. Cowen and Company reduced their price objective on Methanex Corp. from $43.00 to $40.00 and set an outperform rating for the company in a research report on Thursday, August 4th. Royal Bank Of Canada restated a sector perform rating and set a $48.50 price objective on shares of Methanex Corp. in a research report on Monday, June 6th. Finally, CIBC upgraded Methanex Corp. from a sector perform rating to an outperform rating and set a $37.00 price objective for the company in a research report on Tuesday, July 5th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Methanex Corp. currently has an average rating of Buy and a consensus target price of $39.45.
Shares of Methanex Corp. (NASDAQ:MEOH) opened at 35.03 on Thursday. The firm has a market cap of $3.15 billion, a price-to-earnings ratio of 79.43 and a beta of 1.99. The firm has a 50-day moving average price of $30.59 and a 200 day moving average price of $30.91. Methanex Corp. has a 12-month low of $22.73 and a 12-month high of $44.95.
Methanex Corp. (NASDAQ:MEOH) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.09. Methanex Corp. had a net margin of 3.22% and a return on equity of 2.10%. The company had revenue of $468 million for the quarter, compared to analyst estimates of $422.82 million. During the same quarter in the prior year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. On average, equities research analysts anticipate that Methanex Corp. will post ($0.77) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Friday, September 16th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 3.14%. The ex-dividend date of this dividend was Wednesday, September 14th. Methanex Corp.’s dividend payout ratio is presently 305.56%.
Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc increased its stake in Methanex Corp. by 19.3% in the second quarter. Legal & General Group Plc now owns 79,903 shares of the company’s stock worth $2,313,000 after buying an additional 12,936 shares in the last quarter. Fiera Capital Corp increased its stake in Methanex Corp. by 59.9% in the second quarter. Fiera Capital Corp now owns 1,617,442 shares of the company’s stock worth $46,844,000 after buying an additional 605,680 shares in the last quarter. AHL Partners LLP purchased a new stake in Methanex Corp. during the second quarter worth approximately $1,148,000. Guggenheim Capital LLC increased its stake in Methanex Corp. by 120.9% in the second quarter. Guggenheim Capital LLC now owns 23,417 shares of the company’s stock worth $681,000 after buying an additional 12,814 shares in the last quarter. Finally, Polar Capital LLP increased its stake in Methanex Corp. by 82.3% in the second quarter. Polar Capital LLP now owns 981,603 shares of the company’s stock worth $28,565,000 after buying an additional 443,162 shares in the last quarter. 87.01% of the stock is currently owned by institutional investors.
Methanex Corp. Company Profile
Methanex Corporation is a producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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