Methanex (NASDAQ:MEOH) Shares Up 2.7%

Methanex Co. (NASDAQ:MEOHGet Free Report) (TSE:MX) shot up 2.7% on Tuesday . The stock traded as high as $46.28 and last traded at $45.84. 197,766 shares changed hands during trading, a decline of 28% from the average session volume of 274,589 shares. The stock had previously closed at $44.62.

Analyst Ratings Changes

Several brokerages have weighed in on MEOH. Barclays increased their price objective on Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a report on Monday, February 12th. UBS Group raised Methanex from a “neutral” rating to a “buy” rating and raised their price target for the stock from $51.00 to $60.00 in a report on Thursday, February 8th. CIBC raised their price target on Methanex from $46.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th. TheStreet raised Methanex from a “c” rating to a “b-” rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $45.00 price target on shares of Methanex in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Methanex has a consensus rating of “Moderate Buy” and an average target price of $53.50.

Get Our Latest Stock Analysis on Methanex

Methanex Stock Performance

The company has a market cap of $3.28 billion, a PE ratio of 19.79 and a beta of 1.50. The company has a current ratio of 1.14, a quick ratio of 0.81 and a debt-to-equity ratio of 0.84. The business has a fifty day moving average of $44.57 and a 200-day moving average of $44.13.

Methanex (NASDAQ:MEOHGet Free Report) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.24. Methanex had a return on equity of 6.71% and a net margin of 4.67%. The company had revenue of $922.00 million for the quarter, compared to the consensus estimate of $901.21 million. Equities research analysts anticipate that Methanex Co. will post 2.24 earnings per share for the current fiscal year.

Methanex Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.185 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.52%. Methanex’s dividend payout ratio (DPR) is 30.08%.

Institutional Trading of Methanex

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Methanex by 21.1% in the 4th quarter. Vanguard Group Inc. now owns 2,443,939 shares of the specialty chemicals company’s stock worth $115,745,000 after buying an additional 425,104 shares during the last quarter. Wellington Management Group LLP lifted its position in Methanex by 15.2% in the 4th quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock valued at $216,043,000 after acquiring an additional 599,778 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Methanex by 113.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 224,202 shares of the specialty chemicals company’s stock valued at $10,618,000 after acquiring an additional 118,920 shares in the last quarter. FIL Ltd lifted its position in Methanex by 4.9% in the 4th quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after acquiring an additional 346,475 shares in the last quarter. Finally, Legal & General Group Plc lifted its position in Methanex by 9.8% in the 4th quarter. Legal & General Group Plc now owns 81,603 shares of the specialty chemicals company’s stock valued at $3,879,000 after acquiring an additional 7,304 shares in the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

(Get Free Report)

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.

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