Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) had its price objective lifted by equities researchers at Scotiabank from $54.00 to $58.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “sector outperform” rating on the specialty chemicals company’s stock. Scotiabank’s price objective would indicate a potential upside of 15.38% from the stock’s previous close.
Several other equities analysts have also issued reports on MEOH. Barclays boosted their price target on Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research note on Monday, February 12th. CIBC boosted 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. Piper Sandler reissued a “neutral” rating and issued a $50.00 price target on shares of Methanex in a research note on Thursday, March 7th. UBS Group boosted their price target on Methanex from $59.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Royal Bank of Canada boosted their price target on Methanex from $45.00 to $50.00 and gave the company a “sector perform” rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $54.88.
View Our Latest Stock Report on Methanex
Methanex Trading Up 4.1 %
Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 EPS 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 5.38% and a net margin of 4.63%. On average, equities analysts anticipate that Methanex will post 2.35 earnings per share for the current year.
Institutional Investors Weigh In On Methanex
Institutional investors have recently bought and sold shares of the stock. U S Global Investors Inc. purchased a new stake in shares of Methanex in the 1st quarter valued at about $178,000. Citigroup Inc. raised 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 acquiring an additional 1,158 shares in the last quarter. Ausbil Investment Management Ltd purchased a new stake in shares of Methanex in the 4th quarter valued at about $195,000. Advisor Partners II LLC purchased a new stake in shares of Methanex in the 3rd quarter valued at about $209,000. Finally, Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Methanex in the 3rd quarter valued at about $216,000. 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.
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