Methanex Corporation (MEOH) Receives $56.92 Average Target Price from Analysts
Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have earned an average rating of “Hold” from the eighteen analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $57.23.
MEOH has been the subject of a number of research analyst reports. TD Securities lifted their target price on shares of Methanex Corporation to $71.00 and gave the company a “buy” rating in a research note on Monday, September 18th. BidaskClub cut shares of Methanex Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Royal Bank Of Canada reiterated a “hold” rating on shares of Methanex Corporation in a research note on Friday, August 25th. Cowen and Company reiterated a “buy” rating and issued a $55.00 target price on shares of Methanex Corporation in a research note on Friday, September 1st. Finally, Scotiabank set a $53.00 target price on shares of Methanex Corporation and gave the company a “sector perform” rating in a research note on Tuesday, July 4th.
Methanex Corporation (NASDAQ MEOH) traded down 1.20% during mid-day trading on Thursday, reaching $49.40. The company had a trading volume of 449,360 shares. The company’s 50 day moving average is $50.72 and its 200 day moving average is $45.77. Methanex Corporation has a 52-week low of $34.45 and a 52-week high of $53.35. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.22 and a beta of 1.76.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.23). Methanex Corporation had a net margin of 8.92% and a return on equity of 12.43%. The firm had revenue of $669.00 million during the quarter, compared to the consensus estimate of $772.41 million. During the same quarter last year, the firm posted ($0.34) EPS. The business’s revenue was up 42.9% on a year-over-year basis. Equities analysts predict that Methanex Corporation will post $3.94 earnings per share for the current year.
Methanex Corporation declared that its board has authorized a stock repurchase program on Wednesday, July 26th that authorizes the company to repurchase 1,660,000 shares. This repurchase authorization authorizes the specialty chemicals company to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Investors of record on Saturday, September 16th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.43%. The ex-dividend date was Thursday, September 14th. Methanex Corporation’s dividend payout ratio (DPR) is presently 47.81%.
Hedge funds have recently bought and sold shares of the stock. Quantbot Technologies LP raised its position in Methanex Corporation by 40.9% in the 1st quarter. Quantbot Technologies LP now owns 2,228 shares of the specialty chemicals company’s stock worth $104,000 after purchasing an additional 647 shares during the last quarter. FNY Partners Fund LP bought a new stake in shares of Methanex Corporation during the 1st quarter valued at $117,000. Turner Investments LLC bought a new stake in shares of Methanex Corporation during the 2nd quarter valued at $221,000. Korea Investment CORP raised its position in shares of Methanex Corporation by 1.8% during the 2nd quarter. Korea Investment CORP now owns 5,659 shares of the specialty chemicals company’s stock valued at $249,000 after acquiring an additional 101 shares during the last quarter. Finally, Comerica Bank raised its position in shares of Methanex Corporation by 3.1% during the 1st quarter. Comerica Bank now owns 5,892 shares of the specialty chemicals company’s stock valued at $264,000 after acquiring an additional 178 shares during the last quarter. Hedge funds and other institutional investors own 81.87% of the company’s stock.
Methanex Corporation Company Profile
Methanex Corp is a Canada-based 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, as well as 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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