Methanex Corporation (NASDAQ:MEOH) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have been given an average recommendation of “Moderate Buy” by the eleven ratings firms that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $66.7778.

Several brokerages recently commented on MEOH. Scotiabank boosted their price target on Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, May 5th. BMO Capital Markets lifted their price objective on Methanex from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. UBS Group upped their target price on shares of Methanex from $70.00 to $75.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Jefferies Financial Group boosted their price target on Methanex from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Wednesday, March 11th. Finally, Zacks Research raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th.

Methanex Stock Up 1.1%

NASDAQ MEOH opened at $59.83 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.96 and a quick ratio of 1.26. The company’s 50 day simple moving average is $60.15 and its 200 day simple moving average is $49.74. Methanex has a 12 month low of $31.57 and a 12 month high of $66.75. The company has a market capitalization of $4.63 billion, a P/E ratio of -122.10 and a beta of 0.60.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, April 29th. The specialty chemicals company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.08). Methanex had a negative net margin of 1.25% and a positive return on equity of 2.96%. The company had revenue of $957.42 million during the quarter, compared to analyst estimates of $964.76 million. During the same quarter last year, the business earned $1.30 EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that Methanex will post 6.36 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 16th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, June 16th. Methanex’s dividend payout ratio is -151.02%.

Hedge Funds Weigh In On Methanex

Several hedge funds have recently added to or reduced their stakes in MEOH. NewEdge Advisors LLC acquired a new position in shares of Methanex in the 2nd quarter valued at $50,000. Clearstead Advisors LLC grew its stake in shares of Methanex by 336.2% during the fourth quarter. Clearstead Advisors LLC now owns 1,784 shares of the specialty chemicals company’s stock worth $71,000 after purchasing an additional 1,375 shares during the period. Parkside Financial Bank & Trust increased its holdings in Methanex by 61.0% in the fourth quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock valued at $85,000 after purchasing an additional 812 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Methanex by 131.5% in the third quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock valued at $99,000 after buying an additional 1,410 shares during the period. Finally, AXA S.A. acquired a new position in Methanex in the second quarter valued at about $166,000. Institutional investors own 73.49% of the company’s stock.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).