UBS Group Has Lowered Expectations for Methanex (NASDAQ:MEOH) Stock Price

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective cut by analysts at UBS Group from $66.00 to $53.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the specialty chemicals company’s stock. UBS Group’s price target points to a potential upside of 104.87% from the company’s previous close.

A number of other equities research analysts have also commented on the stock. Barclays dropped their price objective on shares of Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 1st. Raymond James lifted their price target on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. CIBC reduced their price objective on Methanex from $63.00 to $55.00 and set an “outperformer” rating for the company in a research report on Thursday, April 3rd. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler downgraded Methanex from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $71.00 to $36.00 in a research report on Monday. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $51.63.

Methanex Stock Down 5.5 %

NASDAQ:MEOH opened at $25.87 on Monday. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 11.20 and a beta of 1.06. 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 stock has a 50-day moving average price of $41.07 and a two-hundred day moving average price of $43.71. Methanex has a 1 year low of $25.57 and a 1 year high of $56.43.

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

Hedge Funds Weigh In On Methanex

Hedge funds and other institutional investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. raised its position in Methanex by 81.0% during the fourth quarter. Polar Asset Management Partners Inc. now owns 188,773 shares of the specialty chemicals company’s stock worth $9,427,000 after acquiring an additional 84,462 shares in the last quarter. Value Partners Investments Inc. raised its holdings in shares of Methanex by 7.3% in the 4th quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company’s stock valued at $302,000 after purchasing an additional 411 shares during the period. Mackenzie Financial Corp lifted its stake in Methanex by 26.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock valued at $53,770,000 after purchasing an additional 226,349 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Methanex by 98.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company’s stock worth $2,616,000 after purchasing an additional 25,973 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Methanex by 1.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company’s stock worth $3,552,000 after buying an additional 965 shares during the last quarter. 73.49% of the stock is owned by institutional investors.

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.