BidaskClub cut shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a hold rating in a report published on Monday.
A number of other research firms also recently commented on MEOH. Scotiabank reiterated a hold rating and issued a $63.00 price objective (up previously from $57.50) on shares of Methanex in a report on Wednesday, January 3rd. Cowen reiterated an outperform rating and issued a $65.00 price objective (up previously from $58.00) on shares of Methanex in a report on Thursday, December 14th. TD Securities increased their price objective on shares of Methanex from $58.00 to $59.00 and gave the company a buy rating in a report on Friday, October 27th. Royal Bank of Canada reiterated a hold rating on shares of Methanex in a report on Wednesday, September 27th. Finally, UBS Group increased their price objective 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $57.20.
Shares of Methanex (NASDAQ MEOH) traded up $0.45 during trading on Monday, reaching $61.25. 706,200 shares of the company were exchanged, compared to its average volume of 638,844. The stock has a market cap of $5,141.08, a price-to-earnings ratio of 20.35, a PEG ratio of 0.83 and a beta of 1.82. 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.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. The company had revenue of $720.00 million during 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%. Methanex’s quarterly revenue was up 41.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.01) EPS. equities analysts anticipate that Methanex will post 3.89 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Sunday, December 31st. Stockholders of record on Sunday, December 17th were issued 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 dividend yield of 1.96%. Methanex’s dividend payout ratio is currently 39.87%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. AHL Partners LLP acquired a new stake in Methanex in the 2nd quarter valued at approximately $300,000. AGF Investments Inc. boosted its position in Methanex by 21.9% in the 3rd quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock valued at $25,082,000 after buying an additional 89,812 shares during the period. Bank of Nova Scotia boosted its position in Methanex by 43.0% in the 2nd quarter. Bank of Nova Scotia now owns 84,145 shares of the specialty chemicals company’s stock valued at $3,715,000 after buying an additional 25,292 shares during the period. Canada Pension Plan Investment Board boosted its position in Methanex by 53.2% in the 3rd quarter. Canada Pension Plan Investment Board now owns 380,459 shares of the specialty chemicals company’s stock valued at $19,074,000 after buying an additional 132,101 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Methanex by 37.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,546 shares of the specialty chemicals company’s stock valued at $3,136,000 after buying an additional 17,000 shares during the period. Institutional investors and hedge funds own 83.12% of the company’s stock.
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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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