Methanex Corp. (MEOH) Given Average Recommendation of “Buy” by Brokerages
Shares of Methanex Corp. (NASDAQ:MEOH) have earned an average rating of “Buy” from the eleven brokerages that are currently covering the firm. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $38.79.
A number of brokerages have recently commented on MEOH. Jefferies Group reaffirmed a “buy” rating and issued a $41.00 target price on shares of Methanex Corp. in a report on Wednesday, June 15th. Zacks Investment Research cut shares of Methanex Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 28th. Citigroup Inc. reaffirmed a “hold” rating and issued a $31.00 target price (down from $35.00) on shares of Methanex Corp. in a report on Friday, July 15th. Raymond James Financial Inc. cut shares of Methanex Corp. from a “strong-buy” rating to an “outperform” rating and lifted their target price for the company from $37.00 to $40.00 in a report on Monday, October 3rd. Finally, Cowen and Company cut their target price on shares of Methanex Corp. from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th.
Several large investors have recently modified their holdings of MEOH. Quantbot Technologies LP bought a new stake in shares of Methanex Corp. during the second quarter valued at approximately $109,000. Polaris Capital Management LLC raised its stake in Methanex Corp. by 19.7% in the second quarter. Polaris Capital Management LLC now owns 4,250 shares of the company’s stock valued at $124,000 after buying an additional 700 shares in the last quarter. First Interstate Bank raised its stake in Methanex Corp. by 19.2% in the second quarter. First Interstate Bank now owns 5,250 shares of the company’s stock valued at $153,000 after buying an additional 845 shares in the last quarter. Citigroup Inc. raised its stake in Methanex Corp. by 104.6% in the second quarter. Citigroup Inc. now owns 6,045 shares of the company’s stock valued at $175,000 after buying an additional 137,805 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Methanex Corp. during the second quarter valued at approximately $243,000. Institutional investors own 87.01% of the company’s stock.
Methanex Corp. (NASDAQ:MEOH) traded down 0.25% during trading on Tuesday, reaching $36.32. 390,183 shares of the company’s stock were exchanged. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 82.36 and a beta of 1.99. The stock has a 50-day moving average price of $31.53 and a 200 day moving average price of $30.97. Methanex Corp. has a 52 week low of $22.73 and a 52 week high of $44.95.
Methanex Corp. (NASDAQ:MEOH) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.25) by $0.09. The company had revenue of $468 million for the quarter, compared to analyst estimates of $422.82 million. Methanex Corp. had a return on equity of 2.10% and a net margin of 3.22%. The firm’s revenue for the quarter was down 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.56 EPS. Equities research analysts forecast that Methanex Corp. will post ($0.76) earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Friday, September 16th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.10 annualized dividend and a dividend yield of 3.02%. Methanex Corp.’s payout ratio is currently 305.56%.
Methanex Corp. Company Profile
Methanex Corporation is a 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, and 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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