Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have received an average rating of “Buy” from the sixteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $73.14.
Several brokerages recently commented on MEOH. BidaskClub cut Methanex from a “strong-buy” rating to a “buy” rating in a report on Thursday. ValuEngine cut Methanex from a “buy” rating to a “hold” rating in a report on Tuesday. MED reiterated a “buy” rating on shares of Methanex in a report on Monday, August 6th. TD Securities upped their target price on Methanex from $76.00 to $77.00 and gave the company a “hold” rating in a report on Friday, July 27th. Finally, Royal Bank of Canada increased their price target on Methanex from $70.00 to $78.00 in a report on Friday, July 27th.
Several institutional investors have recently bought and sold shares of the business. State of Wisconsin Investment Board raised its position in shares of Methanex by 96.5% during the second quarter. State of Wisconsin Investment Board now owns 77,605 shares of the specialty chemicals company’s stock worth $5,484,000 after purchasing an additional 38,105 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Methanex by 10.1% during the first quarter. PNC Financial Services Group Inc. now owns 26,606 shares of the specialty chemicals company’s stock worth $1,614,000 after purchasing an additional 2,448 shares during the period. Trexquant Investment LP raised its position in shares of Methanex by 67.6% during the second quarter. Trexquant Investment LP now owns 9,740 shares of the specialty chemicals company’s stock worth $689,000 after purchasing an additional 3,928 shares during the period. Citigroup Inc. raised its position in shares of Methanex by 115.6% during the first quarter. Citigroup Inc. now owns 60,566 shares of the specialty chemicals company’s stock worth $3,666,000 after purchasing an additional 32,479 shares during the period. Finally, LMR Partners LLP acquired a new position in shares of Methanex during the second quarter worth approximately $857,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.
MEOH stock traded up $0.55 during trading on Monday, hitting $72.20. The company had a trading volume of 213,284 shares, compared to its average volume of 268,100. Methanex has a one year low of $48.55 and a one year high of $77.10. The stock has a market capitalization of $5.69 billion, a PE ratio of 15.33, a PEG ratio of 0.74 and a beta of 1.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.18.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.75. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The business had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $872.10 million. During the same period in the prior year, the business posted $0.85 earnings per share. The firm’s revenue was up 42.0% on a year-over-year basis. research analysts expect that Methanex will post 6.44 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 30th. Shareholders of record on Sunday, September 16th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, September 13th. Methanex’s payout ratio is 28.03%.
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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