Methanex Corporation (NASDAQ:MEOH) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) has received an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat reports. Four research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $47.00.

A number of equities analysts have commented on the stock. Scotiabank restated an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 14th. Zacks Research upgraded Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, UBS Group boosted their price objective on Methanex from $48.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, January 12th.

Hedge Funds Weigh In On Methanex

Institutional investors have recently modified their holdings of the stock. CWM LLC bought a new stake in shares of Methanex during the second quarter valued at approximately $33,000. NewEdge Advisors LLC acquired a new position in Methanex during the 2nd quarter worth $50,000. Parkside Financial Bank & Trust boosted its position in Methanex by 1,244.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after buying an additional 1,232 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Methanex by 131.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock valued at $99,000 after buying an additional 1,410 shares during the last quarter. Finally, AXA S.A. acquired a new stake in shares of Methanex in the 2nd quarter valued at $166,000. 73.49% of the stock is owned by institutional investors.

Methanex Price Performance

Methanex stock opened at $47.72 on Friday. The business has a 50 day simple moving average of $41.72 and a 200 day simple moving average of $38.01. The company has a debt-to-equity ratio of 0.97, a current ratio of 2.09 and a quick ratio of 1.33. The company has a market capitalization of $3.69 billion, a PE ratio of 16.18 and a beta of 0.73. Methanex has a one year low of $25.46 and a one year high of $54.49.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.45). Methanex had a return on equity of 9.07% and a net margin of 5.97%.The company had revenue of $924.87 million for the quarter, compared to analyst estimates of $977.82 million. During the same quarter in the prior year, the company earned $1.21 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts forecast that Methanex will post 4.32 EPS for the current fiscal year.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be issued a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.6%. Methanex’s dividend payout ratio is currently 25.08%.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).