Methanex (NASDAQ:MEOH) PT Raised to $68.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective upped by research analysts at Piper Sandler from $51.00 to $68.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm currently has an “overweight” rating on the specialty chemicals company’s stock. Piper Sandler’s price target indicates a potential upside of 85.89% from the company’s current price.

MEOH has been the topic of a number of other reports. Jefferies Financial Group boosted their target price on Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Scotiabank boosted their target price on Methanex from $58.00 to $60.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd. UBS Group cut their price target on Methanex from $62.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Barclays cut Methanex from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $56.00 to $44.00 in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.88.

Methanex Stock Down 0.7 %

Methanex stock opened at $36.58 on Tuesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25 and a quick ratio of 0.87. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43. The company has a market cap of $2.47 billion, a PE ratio of 15.50 and a beta of 1.36. The stock’s 50 day moving average price is $45.92 and its 200 day moving average price is $47.37.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The company had revenue of $920.00 million for the quarter, compared to the consensus estimate of $954.26 million. Methanex had a return on equity of 5.44% and a net margin of 4.05%. Methanex’s quarterly revenue was down 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 earnings per share. On average, sell-side analysts predict that Methanex will post 2.49 EPS for the current fiscal year.

Hedge Funds Weigh In On Methanex

Several institutional investors have recently added to or reduced their stakes in MEOH. Headlands Technologies LLC increased its stake in Methanex by 346.5% in the first 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 last quarter. Larson Financial Group LLC acquired a new position in Methanex in the first quarter valued at $45,000. Blue Trust Inc. increased its stake in Methanex by 52,500.0% in the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock valued at $70,000 after purchasing an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Methanex by 572.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after purchasing an additional 1,626 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new position in Methanex in the first quarter valued at $178,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

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.