“We are raising our 2019 EPS estimate for MEOH, which triggers an uptick in our 12-month target price, to USD85 per share from USD80. We expect the company’s free cash flow yield to average 15.5% over the 2018 through 2022 timeframe and for Methanex to cumulatively generate around 77% of its current market capitalization in free cash, highlighting the shares’ attractiveness at current valuation levels. We are reiterating our Overweight rating on Methanex shares and raising our 12-month target price to USD85 from USD80.”,” MED’s analyst wrote.
A number of other analysts have also weighed in on MEOH. TD Securities increased their target price on shares of Methanex from $71.00 to $76.00 and gave the stock a hold rating in a report on Wednesday, July 11th. BidaskClub lowered shares of Methanex from a buy rating to a hold rating in a report on Friday, October 26th. Monness Crespi & Hardt increased their target price on shares of Methanex from $72.00 to $75.00 and gave the stock a buy rating in a report on Friday, July 27th. Zacks Investment Research upgraded shares of Methanex from a hold rating to a strong-buy rating and set a $92.00 price objective for the company in a report on Wednesday, October 10th. Finally, ValuEngine lowered shares of Methanex from a hold rating to a sell rating in a report on Thursday, November 1st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Methanex presently has an average rating of Buy and an average price target of $82.36.
Shares of NASDAQ:MEOH opened at $65.39 on Monday. Methanex has a 12-month low of $48.72 and a 12-month high of $83.23. The stock has a market cap of $4.94 billion, a PE ratio of 13.88, a P/E/G ratio of 0.61 and a beta of 1.62. The company has a current ratio of 1.70, a quick ratio of 1.27 and a debt-to-equity ratio of 0.82.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.07). Methanex had a net margin of 12.48% and a return on equity of 34.25%. The company had revenue of $1.04 billion for the quarter. As a group, analysts anticipate that Methanex will post 6.88 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Highstreet Asset Management Inc. bought a new stake in shares of Methanex during the second quarter valued at approximately $183,000. Cerebellum GP LLC bought a new stake in shares of Methanex during the third quarter valued at approximately $188,000. Advisors Preferred LLC increased its position in shares of Methanex by 57.8% during the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock valued at $190,000 after acquiring an additional 985 shares in the last quarter. Suntrust Banks Inc. bought a new stake in shares of Methanex during the first quarter valued at approximately $212,000. Finally, One Capital Management LLC bought a new stake in shares of Methanex during the second quarter valued at approximately $212,000. Hedge funds and other institutional investors own 76.51% of the company’s stock.
Methanex Company Profile
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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