Methanex Co. (MEOH) Receives $68.95 Consensus PT from Brokerages


Methanex Co. (NASDAQ:MEOH) (TSE:MX) has received an average rating of “Buy” from the fifteen ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, six have given a buy rating and two have issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $68.95.


Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating and set a $82.00 price objective on the stock in a research note on Tuesday, June 12th. BidaskClub upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, June 13th. BMO Capital Markets upped their price target on shares of Methanex to $80.00 and gave the company an “outperform” rating in a research note on Wednesday, May 23rd. Jefferies Financial Group upped their price target on shares of Methanex from $72.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 8th. Finally, Cowen upped their price target on shares of Methanex from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Thursday, June 7th.


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MEOH stock traded up $1.50 during midday trading on Tuesday, hitting $69.70. The company’s stock had a trading volume of 307,998 shares, compared to its average volume of 409,501. The company has a current ratio of 1.75, a quick ratio of 1.29 and a debt-to-equity ratio of 0.78. Methanex has a twelve month low of $40.85 and a twelve month high of $72.20. The firm has a market capitalization of $5.61 billion, a P/E ratio of 14.80, a PEG ratio of 0.81 and a beta of 1.65.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, April 25th. The specialty chemicals company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.05). Methanex had a net margin of 11.00% and a return on equity of 24.47%. The business had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.83 million. During the same quarter in the previous year, the firm posted $1.56 earnings per share. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. equities research analysts forecast that Methanex will post 5.58 EPS for the current fiscal year.


The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 30th. Shareholders of record on Saturday, June 16th will be issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date of this dividend is Thursday, June 14th. Methanex’s dividend payout ratio is currently 28.03%.

Methanex announced that its board has initiated a share buyback plan on Monday, March 5th that allows the company to repurchase 6,590,000 shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.


A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners increased its position in shares of Methanex by 0.8% during the first quarter. Boston Partners now owns 3,713,595 shares of the specialty chemicals company’s stock worth $225,230,000 after buying an additional 28,442 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp grew its position in shares of Methanex by 0.7% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 917,400 shares of the specialty chemicals company’s stock worth $71,603,000 after buying an additional 6,400 shares during the period. Russell Investments Group Ltd. grew its position in shares of Methanex by 7.3% in the 1st quarter. Russell Investments Group Ltd. now owns 893,702 shares of the specialty chemicals company’s stock worth $54,082,000 after buying an additional 61,092 shares during the period. Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of Methanex by 0.5% in the 1st quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 823,437 shares of the specialty chemicals company’s stock worth $49,850,000 after buying an additional 3,856 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Methanex by 55.9% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 526,746 shares of the specialty chemicals company’s stock worth $31,890,000 after buying an additional 188,891 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.


Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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