ValuEngine Upgrades Methanex (MEOH) to “Strong-Buy”

ValuEngine upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a strong-buy rating in a research report released on Monday.

Other research analysts have also issued research reports about the company. Jefferies Group boosted their price objective on Methanex to $72.00 and gave the stock a buy rating in a report on Wednesday, January 3rd. TD Securities boosted their price objective on Methanex from $59.00 to $66.00 and gave the stock a buy rating in a report on Tuesday, December 19th. BidaskClub raised Methanex from a hold rating to a buy rating in a report on Friday, December 15th. Alembic Global Advisors reissued a buy rating on shares of Methanex in a report on Monday, January 8th. Finally, Monness Crespi & Hardt boosted their target price on Methanex from $65.00 to $72.00 and gave the stock a buy rating in a research report on Friday, February 2nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $59.21.

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Shares of NASDAQ MEOH opened at $63.70 on Monday. Methanex has a 12 month low of $39.47 and a 12 month high of $64.60. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 0.83. The stock has a market cap of $5,148.46, a PE ratio of 13.05, a price-to-earnings-growth ratio of 0.66 and a beta of 1.63.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.51. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The company had revenue of $861.00 million during the quarter, compared to analyst estimates of $796.57 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Methanex’s revenue was up 47.2% on a year-over-year basis. sell-side analysts anticipate that Methanex will post 6.18 EPS for the current year.

Methanex announced that its board has authorized a share buyback program on Monday, March 5th that permits the company to repurchase 6,590,000 shares. This repurchase authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The company also recently announced a quarterly dividend, which was paid on Saturday, March 31st. Investors of record on Saturday, March 17th were given a $0.33 dividend. This is an increase from Methanex’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, March 15th. This represents a $1.32 dividend on an annualized basis and a yield of 2.07%. Methanex’s payout ratio is presently 28.03%.

Hedge funds have recently made changes to their positions in the business. FineMark National Bank & Trust bought a new stake in Methanex in the fourth quarter valued at approximately $253,000. ETRADE Capital Management LLC bought a new stake in Methanex in the third quarter valued at approximately $241,000. FNY Partners Fund LP bought a new stake in Methanex in the fourth quarter valued at approximately $302,000. AXA bought a new stake in Methanex in the fourth quarter valued at approximately $442,000. Finally, Guardian Capital Advisors LP lifted its position in Methanex by 43.0% in the third quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock valued at $475,000 after purchasing an additional 2,240 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

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About Methanex

Methanex Corp is a Canada-based 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, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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