BidaskClub lowered shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a strong-buy rating to a buy rating in a report released on Tuesday.
MEOH has been the subject of a number of other research reports. Scotiabank set a $53.50 price objective on shares of Methanex and gave the company a sector perform rating in a report on Thursday, October 26th. TD Securities boosted their price target on shares of Methanex to $71.00 and gave the company a buy rating in a report on Monday, September 18th. Cowen restated an outperform rating and issued a $58.00 price target (up previously from $55.00) on shares of Methanex in a report on Monday, October 9th. Raymond James Financial lowered shares of Methanex from an outperform rating to a market perform rating and set a $60.00 price target for the company. in a report on Tuesday, October 31st. Finally, UBS Group boosted their price target on shares of Methanex from $42.00 to $44.00 and gave the company a sell rating in a report on Friday, October 13th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $57.20.
Shares of Methanex (MEOH) traded up $0.45 on Tuesday, reaching $61.25. 706,242 shares of the company were exchanged, compared to its average volume of 491,815. Methanex has a one year low of $39.47 and a one year high of $64.40. The company has a market cap of $5,103.31, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.83.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The company had revenue of $720.00 million during the quarter, compared to analyst estimates of $614.19 million. During the same quarter last year, the business posted ($0.01) EPS. The firm’s revenue for the quarter was up 41.2% on a year-over-year basis. equities analysts predict that Methanex will post 3.89 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Sunday, December 31st. Stockholders of record on Sunday, December 17th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.96%. Methanex’s dividend payout ratio is currently 39.87%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. AHL Partners LLP bought a new position in shares of Methanex during the 2nd quarter worth approximately $300,000. AGF Investments Inc. raised its stake in shares of Methanex by 21.9% during the 3rd quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock worth $25,082,000 after acquiring an additional 89,812 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Methanex by 43.0% during the 2nd quarter. Bank of Nova Scotia now owns 84,145 shares of the specialty chemicals company’s stock worth $3,715,000 after acquiring an additional 25,292 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Methanex by 53.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 380,459 shares of the specialty chemicals company’s stock worth $19,074,000 after acquiring an additional 132,101 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Methanex by 37.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,546 shares of the specialty chemicals company’s stock worth $3,136,000 after acquiring an additional 17,000 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
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Methanex Company Profile
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.
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