Methanex Co. (NASDAQ:MEOH) Receives $57.25 Average Price Target from Analysts

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has earned a consensus recommendation of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $58.00.

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price objective on shares of Methanex in a report on Monday, January 6th. Raymond James boosted their price objective on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Barclays raised their price objective on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th.

Hedge Funds Weigh In On Methanex

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Methanex in the third quarter valued at $40,000. EverSource Wealth Advisors LLC raised its position in Methanex by 572.5% during the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after buying an additional 1,626 shares during the period. Blue Trust Inc. lifted its stake in Methanex by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 896 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Methanex in the 2nd quarter worth about $201,000. Finally, Legacy Wealth Asset Management LLC acquired a new stake in Methanex during the 4th quarter worth about $220,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Stock Performance

Shares of MEOH opened at $49.32 on Tuesday. The firm has a market capitalization of $3.32 billion, a PE ratio of 23.05 and a beta of 1.37. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The firm has a 50-day moving average price of $47.09 and a 200 day moving average price of $44.82. Methanex has a 52-week low of $36.13 and a 52-week high of $56.43.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were given a $0.185 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.50%. Methanex’s dividend payout ratio (DPR) is presently 34.58%.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.