Methanex (NASDAQ:MEOH) (TSE:MX) had its target price lifted by Cowen from $80.00 to $89.00 in a report released on Monday morning, MarketBeat Ratings reports. Cowen currently has an outperform rating on the specialty chemicals company’s stock.

A number of other equities research analysts also recently weighed in on the company. MED reaffirmed a buy rating on shares of Methanex in a research note on Monday, August 6th. Raymond James raised Methanex from a market perform rating to an outperform rating and raised their price target for the stock from $72.00 to $90.00 in a research note on Thursday, September 13th. BidaskClub raised Methanex from a buy rating to a strong-buy rating in a research note on Friday, August 24th. Royal Bank of Canada raised their price target on Methanex from $78.00 to $83.00 and gave the stock a sector perform rating in a research note on Monday, October 1st. Finally, Monness Crespi & Hardt raised their price target on Methanex from $75.00 to $86.00 and gave the stock a buy rating in a research note on Tuesday, September 25th. Six investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average target price of $83.73.

Shares of NASDAQ MEOH opened at $73.63 on Monday. Methanex has a one year low of $48.55 and a one year high of $83.23. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 0.68 and a beta of 1.56. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.18.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.75. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The firm had revenue of $950.00 million during the quarter, compared to analyst estimates of $872.10 million. During the same period last year, the company posted $0.85 EPS. The business’s quarterly revenue was up 42.0% compared to the same quarter last year. Equities analysts expect that Methanex will post 7.34 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th were paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Thursday, September 13th. Methanex’s dividend payout ratio (DPR) is presently 28.03%.

Several hedge funds have recently modified their holdings of the stock. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Methanex by 8.7% in the 2nd quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 997,100 shares of the specialty chemicals company’s stock valued at $92,690,000 after acquiring an additional 79,700 shares in the last quarter. TD Asset Management Inc. raised its stake in shares of Methanex by 25.1% in the 2nd quarter. TD Asset Management Inc. now owns 737,671 shares of the specialty chemicals company’s stock valued at $52,128,000 after acquiring an additional 147,874 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Methanex by 60.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock valued at $42,525,000 after acquiring an additional 226,000 shares in the last quarter. Addenda Capital Inc. raised its stake in shares of Methanex by 78.0% in the 2nd quarter. Addenda Capital Inc. now owns 477,338 shares of the specialty chemicals company’s stock valued at $31,014,000 after acquiring an additional 209,236 shares in the last quarter. Finally, CIBC World Markets Inc. raised its stake in shares of Methanex by 2.5% in the 2nd quarter. CIBC World Markets Inc. now owns 477,053 shares of the specialty chemicals company’s stock valued at $33,728,000 after acquiring an additional 11,623 shares in the last quarter. 76.38% of the stock is currently owned by institutional investors and hedge funds.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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