Methanex Co. (NASDAQ:MEOH) Receives $55.88 Average Target Price from Brokerages

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $55.88.

MEOH has been the subject of several research analyst reports. Raymond James lowered their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barclays boosted their target price on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. UBS Group decreased their target price on Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd.

Methanex Trading Up 0.5 %

NASDAQ MEOH opened at $46.52 on Monday. The company has a market cap of $3.13 billion, a price-to-earnings ratio of 21.74 and a beta of 1.36. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The business’s fifty day moving average is $41.95 and its 200 day moving average is $45.57. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.59%. Methanex’s payout ratio is presently 34.58%.

Hedge Funds Weigh In On Methanex

A number of hedge funds and other institutional investors have recently modified their holdings of MEOH. Wilmington Savings Fund Society FSB purchased a new position in Methanex in the third quarter valued at approximately $40,000. Blue Trust Inc. lifted its position in shares of Methanex by 52,500.0% during the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after acquiring an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after acquiring an additional 1,626 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Methanex during the second quarter worth $201,000. Finally, Value Partners Investments Inc. lifted its position in shares of Methanex by 10.4% during the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after acquiring an additional 532 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.