Methanex (NASDAQ:MEOH) Price Target Increased to $62.00 by Analysts at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its target price lifted by UBS Group from $59.00 to $62.00 in a report issued on Thursday, Benzinga reports. They currently have a buy rating on the specialty chemicals company’s stock.

MEOH has been the topic of a number of other research reports. Barclays boosted their price objective on Methanex from $53.00 to $56.00 and gave the stock an overweight rating in a research note on Monday, February 12th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $45.00 price target on shares of Methanex in a research note on Wednesday, April 3rd. Raymond James decreased their price target on Methanex from $67.00 to $62.00 and set an outperform rating on the stock in a research note on Wednesday, February 21st. Piper Sandler reaffirmed a neutral rating and issued a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. Finally, CIBC upped their price target on Methanex from $46.00 to $48.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $53.75.

Methanex Stock Performance

NASDAQ MEOH opened at $47.77 on Thursday. The stock’s fifty day moving average is $45.53 and its two-hundred day moving average is $44.71. The firm has a market capitalization of $3.22 billion, a P/E ratio of 20.24 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 1.14. Methanex has a fifty-two week low of $38.18 and a fifty-two week high of $51.42.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.24. The company had revenue of $922.00 million for the quarter, compared to analyst estimates of $901.21 million. Methanex had a return on equity of 5.36% and a net margin of 4.63%. On average, research analysts anticipate that Methanex will post 2.35 earnings per share for the current year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.185 per share. The ex-dividend date is Friday, June 14th. This represents a $0.74 annualized dividend and a yield of 1.55%. Methanex’s dividend payout ratio (DPR) is 31.36%.

Institutional Investors Weigh In On Methanex

Several large investors have recently bought and sold shares of the stock. U S Global Investors Inc. purchased a new position in shares of Methanex in the 1st quarter valued at about $178,000. Citigroup Inc. lifted its holdings in shares of Methanex by 40.2% in the 3rd quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock valued at $183,000 after buying an additional 1,158 shares during the period. Ausbil Investment Management Ltd acquired a new stake in shares of Methanex in the 4th quarter valued at approximately $195,000. Advisor Partners II LLC acquired a new stake in shares of Methanex in the 3rd quarter valued at approximately $209,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Methanex in the 3rd quarter valued at approximately $216,000. Hedge funds and other institutional investors 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.