Methanex Corp. (MEOH) Receives Average Rating of “Hold” from Brokerages
Shares of Methanex Corp. (NASDAQ:MEOH) (TSE:MX) have been given a consensus rating of “Hold” by the twelve analysts that are presently covering the company. Seven investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $41.11.
A number of research analysts have weighed in on MEOH shares. BMO Capital Markets lifted their target price on Methanex Corp. from $36.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, September 29th. Scotiabank reaffirmed an “outperform” rating and set a $35.00 target price on shares of Methanex Corp. in a report on Wednesday, August 31st. CIBC lowered Methanex Corp. from a “sector outperform” rating to a “sector perform” rating in a report on Monday, October 24th. Raymond James Financial Inc. lowered Methanex Corp. from a “strong-buy” rating to an “outperform” rating and boosted their price objective for the stock from $37.00 to $40.00 in a report on Monday, October 3rd. Finally, TD Securities raised Methanex Corp. from a “hold” rating to a “buy” rating in a report on Friday, July 29th.
Hedge funds have recently made changes to their positions in the stock. BlackRock Group LTD increased its stake in shares of Methanex Corp. by 2.5% in the first quarter. BlackRock Group LTD now owns 70,300 shares of the company’s stock valued at $2,258,000 after buying an additional 1,700 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Methanex Corp. by 21.7% in the first quarter. Legal & General Group Plc now owns 66,967 shares of the company’s stock valued at $2,161,000 after buying an additional 11,924 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Methanex Corp. by 68.1% in the first quarter. Envestnet Asset Management Inc. now owns 35,483 shares of the company’s stock valued at $1,140,000 after buying an additional 14,371 shares during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Methanex Corp. during the first quarter valued at $2,470,000. Finally, Barclays PLC increased its stake in shares of Methanex Corp. by 73.3% in the first quarter. Barclays PLC now owns 62,863 shares of the company’s stock valued at $2,011,000 after buying an additional 26,581 shares during the last quarter. Hedge funds and other institutional investors own 87.50% of the company’s stock.
Methanex Corp. (NASDAQ:MEOH) opened at 37.95 on Tuesday. Methanex Corp. has a one year low of $22.73 and a one year high of $41.49. The company’s 50-day moving average is $36.93 and its 200 day moving average is $31.86. The company’s market capitalization is $3.41 billion.
Methanex Corp. (NASDAQ:MEOH) last posted its earnings results on Wednesday, October 26th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.20. The business earned $2.48 million during the quarter, compared to analyst estimates of $2.09 million. Methanex Corp. had a negative return on equity of 2.57% and a negative net margin of 1.45%. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. Analysts predict that Methanex Corp. will post ($0.58) EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 31st. Shareholders of record on Saturday, December 17th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $1.10 annualized dividend and a yield of 2.90%. Methanex Corp.’s payout ratio is currently -366.67%.
About Methanex Corp.
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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