Methanex Co. (NASDAQ:MEOH) Receives Average Recommendation of “Moderate Buy” from Brokerages

Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $58.00.

Several equities research analysts have issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a report on Monday, January 6th. Piper Sandler lifted their price target on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. CIBC reiterated an “outperformer” rating and set a $59.00 price objective (up from $48.00) on shares of Methanex in a research note on Tuesday, December 10th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th.

Methanex Stock Down 1.1 %

Shares of Methanex stock opened at $49.32 on Tuesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43. The business has a 50-day moving average of $47.09 and a 200-day moving average of $44.82. The company has a market capitalization of $3.32 billion, a PE ratio of 23.05 and a beta of 1.37.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Methanex during the third quarter valued at $40,000. EverSource Wealth Advisors LLC boosted its stake in Methanex by 572.5% during the 2nd 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 period. Blue Trust Inc. grew its position in Methanex by 56.8% in the 3rd quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after purchasing an additional 896 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Methanex in the second quarter valued at approximately $201,000. Finally, Legacy Wealth Asset Management LLC bought a new stake in shares of Methanex during the fourth quarter valued at approximately $220,000. 73.49% of the stock is currently owned by institutional investors.

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.