Methanex (NASDAQ:MEOH) Price Target Cut to $54.00 by Analysts at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective trimmed by UBS Group from $58.00 to $54.00 in a research report report published on Monday, Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

A number of other equities analysts have also weighed in on MEOH. Raymond James dropped their target price on shares of Methanex from $62.00 to $54.00 and set an outperform rating for the company in a research report on Wednesday, September 11th. Royal Bank of Canada restated a sector perform rating and set a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Barclays downgraded Methanex from an overweight rating to an equal weight rating and decreased their target price for the stock from $56.00 to $44.00 in a research report on Tuesday, September 10th. Piper Sandler raised their price target on Methanex from $51.00 to $68.00 and gave the company an overweight rating in a report on Tuesday, September 10th. Finally, Jefferies Financial Group lifted their price objective on Methanex from $56.00 to $60.00 and gave the stock a buy rating in a research note on Monday, June 10th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $55.38.

Methanex Trading Up 2.8 %

NASDAQ:MEOH opened at $38.62 on Monday. Methanex has a one year low of $36.13 and a one year high of $56.43. The business has a fifty day moving average price of $45.31 and a 200-day moving average price of $47.25. The firm has a market capitalization of $2.60 billion, a price-to-earnings ratio of 16.36 and a beta of 1.36. 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 (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.10. The business had revenue of $920.00 million during the quarter, compared to analyst estimates of $954.26 million. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The company’s revenue was down 2.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. Sell-side analysts forecast that Methanex will post 2.46 EPS for the current year.

Methanex Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Monday, September 16th. Methanex’s dividend payout ratio (DPR) is 31.36%.

Institutional Trading of Methanex

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC increased its position in Methanex by 0.6% during the first quarter. O Shaughnessy Asset Management LLC now owns 39,649 shares of the specialty chemicals company’s stock valued at $1,769,000 after acquiring an additional 229 shares during the last quarter. Truist Financial Corp grew its holdings in Methanex by 5.0% during the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares during the last quarter. Pinnacle Associates Ltd. raised its position in Methanex by 1.8% in the 1st quarter. Pinnacle Associates Ltd. now owns 22,094 shares of the specialty chemicals company’s stock worth $986,000 after purchasing an additional 393 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Methanex by 3.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock worth $622,000 after purchasing an additional 411 shares during the last quarter. Finally, Value Partners Investments Inc. boosted its position in shares of Methanex by 13.3% during the second quarter. Value Partners Investments Inc. now owns 5,110 shares of the specialty chemicals company’s stock valued at $247,000 after buying an additional 599 shares during the period. Hedge funds and other institutional investors own 73.49% of the company’s stock.

About Methanex

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.