Shares of Methanex Co. (NASDAQ:MEOH – Get Rating) (TSE:MX) rose 3.9% on Tuesday. The stock traded as high as $46.12 and last traded at $46.08. Approximately 23,044 shares were traded during trading, down 94% from the average daily volume of 398,320 shares. The stock previously closed at $44.35.

Several research analysts have recently weighed in on MEOH stocks. Barclays raised its target price on Methanex from $60.00 to $63.00 in a Monday May 2 research note. StockNews.com upgraded Methanex from a “Strong Buy” rating to a “Buy” rating in a Thursday, May 5, research rating. Piper Sandler downgraded Methanex from a “neutral” rating to an “underweight” rating and lowered its target price for the company from $49.00 to $48.00 in a Tuesday, May 10 research note. TD Securities raised its target price on Methanex from $59.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, March 28. Finally, Alembic Global Advisors reaffirmed a “hold” rating and set a target price of $40.00 on Methanex shares in a Monday, May 9 report. Two investment analysts have assigned the stock a sell rating, five have assigned a hold rating and six have assigned the stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $52.58.

The company has a 50-day moving average of $51.24 and a 200-day moving average of $48.35. The stock has a market capitalization of $3.29 billion, a PE ratio of 7.15 and a beta of 1.71. The company has a debt ratio of 0.93, a quick ratio of 1.82 and a current ratio of 2.28.

Methanex (NASDAQ:MEOH – Get Rating) (TSE:MX) last reported quarterly earnings data on Wednesday, April 27. The specialty chemicals company reported earnings per share (EPS) of $2.16 for the quarter, beating the consensus estimate of $2.09 by $0.07. Methanex had a return on equity of 27.41% and a net margin of 10.87%. The company posted revenue of $1.18 billion in the quarter, versus a consensus estimate of $1.16 billion. During the same period of the previous year, the company achieved EPS of $1.07. The company’s revenue for the quarter increased 15.7% year over year. On average, sell-side analysts expect Methanex Co. to post 7.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 30. Shareholders of record on Thursday, June 16 will receive a dividend of $0.145 per share. The ex-date of this dividend is Wednesday, June 15. This is an increase from Methanex’s previous quarterly dividend of $0.13. This represents a dividend of $0.58 on an annualized basis and a dividend yield of 1.28%. Methanex’s dividend payout ratio (DPR) is 7.87%.

Several hedge funds and other institutional investors have recently changed their MEOH holdings. Norges Bank acquired a new position in Methanex shares during the 4th quarter valued at approximately $25,259,000. Mackenzie Financial Corp increased its holdings of Methanex shares by 60.7% in the first quarter. Mackenzie Financial Corp now owns 1,631,060 shares of the specialty chemicals company valued at $89,072,000 after acquiring an additional 616,146 shares in the last quarter. Royal Bank of Canada increased its holdings of Methanex shares by 46.7% during the third quarter. Royal Bank of Canada now owns 1,872,859 shares of the specialty chemicals company valued at $86,226,000 after acquiring an additional 596,022 shares in the last quarter. Oxbow Capital Management HK Ltd acquired a new position in Methanex shares during Q4 valued at approximately $21,752,000. Finally, Two Sigma Investments LP increased its stake in Methanex shares by 374.4% during the third quarter. Two Sigma Investments LP now owns 476,460 shares of the specialty chemicals company valued at $21,936,000 after acquiring 376,033 additional shares in the last quarter. 91.37% of the shares are currently held by institutional investors and hedge funds.

About Methanex (NASDAQ: MEOH)

Methanex Corporation produces and supplies methanol in North America, Asia-Pacific, Europe and South America. The Company also purchases methanol produced by others under methanol removal contracts and on the spot market. In addition, it owns and leases storage facilities and terminals. The company owns and manages a fleet of approximately 30 ocean-going vessels.

Featured Articles

Get news and reviews for Methanex Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Methanex and related companies with MarketBeat.com’s FREE daily newsletter.