Barclays Lowers Methanex (NASDAQ:MEOH) Price Target to $41.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target decreased by Barclays from $57.00 to $41.00 in a research report sent to investors on Tuesday,Benzinga reports. Barclays currently has an equal weight rating on the specialty chemicals company’s stock.

MEOH has been the topic of several other research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Raymond James raised their target price on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Scotiabank downgraded shares of Methanex from a “sector outperform” rating to a “sector perform” rating and dropped their price target for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. CIBC reaffirmed an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Finally, UBS Group raised their target price on Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.63.

Methanex Trading Down 2.1 %

MEOH opened at $34.34 on Tuesday. Methanex has a 1-year low of $33.97 and a 1-year high of $56.43. The stock has a market capitalization of $2.31 billion, a PE ratio of 14.87 and a beta of 1.38. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The firm has a 50-day moving average price of $43.63 and a two-hundred day moving average price of $44.19.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. As a group, equities analysts anticipate that Methanex will post 4.32 earnings per share for the current fiscal year.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 17th were given a $0.185 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 2.15%. Methanex’s dividend payout ratio is currently 32.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its stake in Methanex by 1.3% in the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company’s stock valued at $241,549,000 after acquiring an additional 62,467 shares in the last quarter. FMR LLC lifted its position in shares of Methanex by 3.0% in the fourth quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company’s stock worth $166,384,000 after purchasing an additional 95,950 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Methanex by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company’s stock worth $105,779,000 after purchasing an additional 37,658 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Methanex by 26.6% during the fourth quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock worth $53,770,000 after purchasing an additional 226,349 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Methanex by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company’s stock valued at $52,334,000 after purchasing an additional 50,075 shares in the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

About Methanex

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.