Methanex (NASDAQ:MEOH) PT Raised to $60.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target hoisted by analysts at Jefferies Financial Group from $56.00 to $60.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 17.95% from the stock’s current price.

MEOH has been the topic of several other reports. Barclays increased their price objective on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Royal Bank of Canada raised their price target on shares of Methanex from $50.00 to $55.00 and gave the company a “sector perform” rating in a research report on Monday, June 3rd. Piper Sandler restated a “neutral” rating and issued a $50.00 price objective on shares of Methanex in a report on Thursday, March 7th. Raymond James cut their target price on Methanex from $67.00 to $62.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 21st. Finally, UBS Group boosted their price target on Methanex from $59.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $56.38.

Methanex Price Performance

MEOH stock opened at $50.87 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 1.17. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 21.56 and a beta of 1.42. The firm has a 50 day moving average price of $50.35 and a 200-day moving average price of $46.77. Methanex has a 52-week low of $38.18 and a 52-week high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, April 24th. The specialty chemicals company reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.35. Methanex had a return on equity of 5.38% and a net margin of 4.63%. The business had revenue of $916.00 million during the quarter, compared to analysts’ expectations of $908.50 million. Equities research analysts forecast that Methanex will post 2.15 EPS for the current fiscal year.

Institutional Trading of Methanex

A number of hedge funds have recently bought and sold shares of the company. Headlands Technologies LLC grew its stake in shares of Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company’s stock valued at $40,000 after purchasing an additional 700 shares during the period. Larson Financial Group LLC bought a new stake in Methanex during the first quarter valued at approximately $45,000. U S Global Investors Inc. purchased a new stake in Methanex during the first quarter valued at approximately $178,000. Citigroup Inc. raised its position in Methanex by 40.2% in the third quarter. Citigroup Inc. now owns 4,042 shares of the specialty chemicals company’s stock worth $183,000 after acquiring an additional 1,158 shares during the period. Finally, Ausbil Investment Management Ltd purchased a new position in shares of Methanex during the 4th quarter worth $195,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

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.