Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given a consensus rating of “Hold” by the eighteen analysts that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $58.77.
A number of equities analysts have recently issued reports on MEOH shares. BidaskClub upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 22nd. Scotiabank restated a “hold” rating and set a $63.00 target price (up from $57.50) on shares of Methanex in a research report on Wednesday, January 3rd. Cowen restated an “outperform” rating and set a $65.00 target price (up from $58.00) on shares of Methanex in a research report on Thursday, December 14th. TD Securities raised their target price on shares of Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Finally, Raymond James Financial raised their target price on shares of Methanex from $60.00 to $63.50 and gave the stock a “market perform” rating in a research report on Friday, February 2nd.
Methanex (NASDAQ:MEOH) traded down $0.05 during mid-day trading on Wednesday, reaching $57.15. 419,100 shares of the company’s stock were exchanged, compared to its average volume of 751,297. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $4,787.49, a PE ratio of 16.14, a P/E/G ratio of 0.62 and a beta of 1.73. Methanex has a 12 month low of $39.47 and a 12 month high of $64.60.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 31st. Investors of record on Saturday, March 17th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.31%. This is a positive change from Methanex’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 15th. Methanex’s dividend payout ratio (DPR) is 33.90%.
Hedge funds and other institutional investors have recently modified their holdings of the business. FineMark National Bank & Trust purchased a new stake in shares of Methanex during the 4th quarter worth $253,000. ETRADE Capital Management LLC purchased a new stake in shares of Methanex during the 3rd quarter worth $241,000. FNY Partners Fund LP purchased a new stake in shares of Methanex during the 4th quarter worth $302,000. AHL Partners LLP purchased a new stake in shares of Methanex during the 2nd quarter worth $300,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Methanex by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 81.60% of the company’s stock.
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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