Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average recommendation of “Hold” by the eighteen brokerages that are presently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $56.69.
MEOH has been the subject of a number of recent research reports. BMO Capital Markets restated a “buy” rating and issued a $57.00 target price on shares of Methanex in a research report on Friday, November 24th. Jefferies Group restated a “buy” rating and issued a $60.00 target price on shares of Methanex in a research report on Thursday, October 19th. TD Securities boosted their target price on Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research upgraded Methanex from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Tuesday, October 3rd. Finally, ValuEngine downgraded Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th.
Shares of Methanex (NASDAQ MEOH) opened at $59.25 on Friday. The firm has a market capitalization of $4,893.47, a P/E ratio of 19.68, a P/E/G ratio of 0.79 and a beta of 1.82. Methanex has a 12-month low of $39.47 and a 12-month high of $64.40. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The company had revenue of $720.00 million during the quarter, compared to the consensus estimate of $614.19 million. Methanex had a return on equity of 16.02% and a net margin of 9.81%. Methanex’s quarterly revenue was up 41.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.01) EPS. analysts expect that Methanex will post 3.89 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 2.03%. Methanex’s payout ratio is currently 39.87%.
A number of hedge funds have recently made changes to their positions in MEOH. Gotham Asset Management LLC bought a new stake in Methanex in the second quarter valued at approximately $23,031,000. Renaissance Technologies LLC raised its holdings in shares of Methanex by 98.4% during the second quarter. Renaissance Technologies LLC now owns 378,098 shares of the specialty chemicals company’s stock valued at $16,659,000 after acquiring an additional 187,500 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of Methanex by 53.2% during the third quarter. Canada Pension Plan Investment Board now owns 380,459 shares of the specialty chemicals company’s stock valued at $19,074,000 after acquiring an additional 132,101 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Methanex by 3,077.5% during the second quarter. JPMorgan Chase & Co. now owns 97,072 shares of the specialty chemicals company’s stock valued at $4,277,000 after acquiring an additional 94,017 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in shares of Methanex by 29.3% during the second quarter. Ameriprise Financial Inc. now owns 405,236 shares of the specialty chemicals company’s stock valued at $17,852,000 after acquiring an additional 91,829 shares in the last quarter. Hedge funds and other institutional investors own 83.12% of the company’s stock.
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Methanex 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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