BidaskClub upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a strong-buy rating in a report issued on Friday, December 22nd.
Several other brokerages also recently issued reports on MEOH. Cowen reiterated an outperform rating and set a $65.00 price target (up previously from $58.00) on shares of Methanex in a research report on Thursday, December 14th. TD Securities boosted their price objective on Methanex from $58.00 to $59.00 and gave the stock a buy rating in a report on Friday, October 27th. Royal Bank of Canada reissued a hold rating on shares of Methanex in a report on Wednesday, September 27th. Scotiabank set a $53.50 price objective on Methanex and gave the stock a sector perform rating in a report on Wednesday, October 18th. Finally, UBS Group boosted their price objective on Methanex from $42.00 to $44.00 and gave the stock a sell rating in a report on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. Methanex presently has a consensus rating of Hold and an average price target of $57.20.
Methanex (NASDAQ MEOH) traded up $0.45 on Friday, reaching $61.25. 700,000 shares of the company’s stock were exchanged, compared to its average volume of 491,815. Methanex has a 1 year low of $39.47 and a 1 year high of $64.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. The firm has a market capitalization of $5,141.08, a P/E ratio of 18.62, a P/E/G ratio of 0.89 and a beta of 1.82.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The company had revenue of $720.00 million for the quarter, compared to the consensus estimate of $614.19 million. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) EPS. analysts forecast that Methanex will post 3.89 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 31st. Investors of record on Sunday, December 17th were paid a dividend of $0.30 per share. The ex-dividend date was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.96%. Methanex’s payout ratio is 39.87%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Wisconsin Investment Board boosted its position in Methanex by 5.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 95,400 shares of the specialty chemicals company’s stock worth $4,205,000 after acquiring an additional 4,500 shares during the last quarter. Marshall Wace North America L.P. boosted its position in Methanex by 76.1% during the 2nd quarter. Marshall Wace North America L.P. now owns 101,307 shares of the specialty chemicals company’s stock worth $4,458,000 after acquiring an additional 43,776 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position in Methanex by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 272,434 shares of the specialty chemicals company’s stock worth $12,006,000 after acquiring an additional 3,165 shares during the last quarter. Andra AP fonden boosted its position in Methanex by 69.7% during the 2nd quarter. Andra AP fonden now owns 24,600 shares of the specialty chemicals company’s stock worth $1,408,000 after acquiring an additional 10,100 shares during the last quarter. Finally, Airain ltd acquired a new position in Methanex during the 2nd quarter worth approximately $645,000. 83.07% of the stock is owned by institutional investors and hedge funds.
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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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