Analysts Set Methanex Co. (NASDAQ:MEOH) Target Price at $43.50

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has earned a consensus rating of “Hold” from the fifteen brokerages that are covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $44.00.

MEOH has been the subject of a number of research analyst reports. Tudor Pickering & Holt set a $38.00 price objective on shares of Methanex and gave the stock a “hold” rating in a report on Tuesday, June 29th. TheStreet raised Methanex from a “d+” rating to a “c-” rating in a research note on Monday, April 5th. Royal Bank of Canada raised Methanex from a “sector perform” rating to an “outperform” rating and upped their price target for the company from $45.00 to $50.00 in a research report on Tuesday, June 1st. Raymond James boosted their price target on shares of Methanex from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, TD Securities upped their price target on Methanex from $51.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday.

Shares of NASDAQ:MEOH opened at $33.33 on Monday. Methanex has a 1 year low of $18.18 and a 1 year high of $49.27. The company has a fifty day simple moving average of $34.82. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.11 and a quick ratio of 1.66. The company has a market cap of $2.54 billion, a P/E ratio of -28.73 and a beta of 2.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Tuesday, April 27th. The specialty chemicals company reported $1.07 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.07. Methanex had a negative net margin of 2.55% and a negative return on equity of 3.20%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $802.13 million. During the same period in the previous year, the business earned $0.10 EPS. Methanex’s revenue was up 36.4% compared to the same quarter last year. On average, sell-side analysts forecast that Methanex will post 3.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, September 15th. This represents a $0.50 annualized dividend and a dividend yield of 1.50%. This is a positive change from Methanex’s previous quarterly dividend of $0.04. Methanex’s payout ratio is currently -4.94%.

A number of institutional investors have recently made changes to their positions in MEOH. M&G Investment Management Ltd. lifted its holdings in shares of Methanex by 4.5% during the 1st quarter. M&G Investment Management Ltd. now owns 14,858,651 shares of the specialty chemicals company’s stock valued at $549,770,000 after purchasing an additional 633,976 shares during the last quarter. FIL Ltd grew its position in Methanex by 9.7% during the 1st quarter. FIL Ltd now owns 8,610,486 shares of the specialty chemicals company’s stock worth $317,712,000 after purchasing an additional 759,839 shares during the period. Norges Bank purchased a new position in Methanex during the fourth quarter valued at approximately $36,165,000. Morgan Stanley lifted its stake in shares of Methanex by 723.8% in the 1st quarter. Morgan Stanley now owns 578,528 shares of the specialty chemicals company’s stock valued at $21,290,000 after purchasing an additional 508,299 shares during the period. Finally, TD Asset Management Inc. boosted its stake in shares of Methanex by 7.6% during the 1st quarter. TD Asset Management Inc. now owns 331,594 shares of the specialty chemicals company’s stock worth $12,234,000 after acquiring an additional 23,422 shares in the last quarter. Institutional investors and hedge funds own 65.14% of the company’s stock.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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