Methanex (NASDAQ:MEOH) Price Target Lowered to $54.00 at UBS Group

by · The Markets Daily

Methanex (NASDAQ:MEOH – Free Report) (TSE:MX) had its target price reduced by UBS Group from $58.00 to $54.00 in a research report released on Monday morning, Benzinga reports. UBS Group currently has a buy rating on the specialty chemicals company’s stock.

A number of other research analysts also recently commented on the company. 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. Jefferies Financial Group increased their price objective on shares of Methanex from $56.00 to $60.00 and gave the company a buy rating in a research report on Monday, June 10th. Piper Sandler boosted their target price on shares of Methanex from $51.00 to $68.00 and gave the stock an overweight rating in a report on Tuesday, September 10th. Barclays downgraded shares of Methanex from an overweight rating to an equal weight rating and lowered their price target for the company from $56.00 to $44.00 in a report on Tuesday, September 10th. Finally, Scotiabank boosted their price objective on Methanex from $58.00 to $60.00 and gave the stock a sector outperform rating in a research note on Wednesday, July 10th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $55.38.

Read Our Latest Stock Report on Methanex

Methanex Stock Performance

MEOH opened at $40.48 on Monday. The stock has a market capitalization of $2.73 billion, a price-to-earnings ratio of 17.15 and a beta of 1.36. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.87 and a current ratio of 1.25. The company has a fifty day moving average of $44.75 and a 200 day moving average of $47.11.

Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) last issued its earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.10. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The firm had revenue of $920.00 million for the quarter, compared to analysts’ expectations of $954.26 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The business’s revenue was down 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Methanex will post 2.46 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.83%. Methanex’s dividend payout ratio is 31.36%.

Institutional Investors Weigh In On Methanex

Institutional investors and hedge funds have recently modified their holdings of the business. M&G Plc purchased a new stake in Methanex in the first quarter worth $589,459,000. FIL Ltd lifted its holdings in Methanex by 4.9% during the 4th quarter. FIL Ltd now owns 7,396,173 shares of the specialty chemicals company’s stock valued at $349,868,000 after buying an additional 346,475 shares in the last quarter. Wellington Management Group LLP boosted its position in Methanex by 15.2% in the 4th quarter. Wellington Management Group LLP now owns 4,557,093 shares of the specialty chemicals company’s stock valued at $216,043,000 after buying an additional 599,778 shares during the period. Vanguard Group Inc. grew its stake in Methanex by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company’s stock worth $111,000,000 after acquiring an additional 43,178 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Methanex by 16.3% during the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock worth $55,406,000 after acquiring an additional 159,542 shares during the period. 73.49% of the stock is owned by institutional investors.

Methanex Company Profile

(Get Free Report)

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.

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