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Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX) has been assigned an average rating of “Hold” from the twelve brokerages that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $46.10.
MEOH has been the subject of several analyst reports. TheStreet lowered Methanex from a “b-” rating to a “c-” rating in a research report on Friday, October 28th. Jefferies Financial Group lowered their price objective on Methanex from $56.00 to $47.00 and set a “buy” rating for the company in a research report on Monday, December 19th. Scotiabank upgraded Methanex from a “sector perform” rating to a “sector outperform” rating and set a $46.00 price objective for the company in a research report on Monday, September 26th. They noted that the move was a valuation call. StockNews.com lowered Methanex from a “buy” rating to a “hold” rating in a research report on Monday, December 12th. Finally, Royal Bank of Canada lowered Methanex from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $50.00 to $45.00 in a research report on Wednesday, November 30th.
Methanex Stock Performance
NASDAQ MEOH opened at $36.85 on Monday. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 5.77 and a beta of 1.63. Methanex has a twelve month low of $28.73 and a twelve month high of $56.79. The company has a current ratio of 2.15, a quick ratio of 1.71 and a debt-to-equity ratio of 0.86. The stock has a 50-day moving average of $37.14 and a 200 day moving average of $37.11.
Methanex (NASDAQ:MEOH – Get Rating) (TSE:MX) last posted its quarterly earnings data on Wednesday, October 26th. The specialty chemicals company reported $0.69 EPS for the quarter, missing the consensus estimate of $0.82 by ($0.13). Methanex had a return on equity of 20.91% and a net margin of 11.22%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $981.65 million. Sell-side analysts anticipate that Methanex will post 3.18 EPS for the current fiscal year.
Methanex Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 31st. Shareholders of record on Saturday, December 17th will be issued a dividend of $0.175 per share. This represents a $0.70 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, December 15th. Methanex’s payout ratio is 10.95%.
Hedge Funds Weigh In On Methanex
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Van ECK Associates Corp grew its holdings in shares of Methanex by 64.7% during the first quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock worth $42,000 after buying an additional 306 shares during the last quarter. Wipfli Financial Advisors LLC acquired a new stake in Methanex in the third quarter valued at about $34,000. Lazard Asset Management LLC lifted its position in Methanex by 37.2% in the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after purchasing an additional 302 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Methanex in the first quarter valued at about $202,000. Finally, Seven Eight Capital LP acquired a new stake in Methanex in the first quarter valued at about $211,000. Hedge funds and other institutional investors own 69.38% of the company’s stock.
Methanex Company Profile
(Get Rating)
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.
Further Reading
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