Methanex PT Raised to $70.00 at RBC Capital (MEOH)
Equities researchers at RBC Capital upped their target price on shares of Methanex (NASDAQ:MEOH) from $66.00 to $70.00 in a research report issued on Friday. RBC Capital’s price target points to a potential upside of 11.84% from the stock’s previous close.
Methanex (NASDAQ:MEOH) traded down 3.81% on Friday, hitting $62.59. The stock had a trading volume of 1,482,721 shares. Methanex has a 52 week low of $45.79 and a 52 week high of $73.43. The stock has a 50-day moving average of $63.44 and a 200-day moving average of $62.85. The company has a market cap of $6.016 billion and a price-to-earnings ratio of 13.00.
Methanex (NASDAQ:MEOH) last posted its quarterly earnings results on Friday, August 1st. The company reported $1.01 earnings per share for the quarter, missing the analysts’ consensus estimate of $1.02 by $0.01. Analysts expect that Methanex will post $4.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Friday, September 12th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Scotiabank downgraded shares of Methanex from an “outperform” rating to a “sector perform” rating in a research note on Friday. Separately, analysts at TD Securities downgraded shares of Methanex from a “buy” rating to a “hold” rating in a research note on Thursday. They now have a $69.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Methanex presently has an average rating of “Buy” and a consensus target price of $74.14.
Methanex Corporation (NASDAQ:MEOH) is a supplier of methanol to international markets in Asia Pacific, North America, Europe and Latin America.
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