Methanex Co. (NASDAQ:MEOH) Given Consensus Rating of “Hold” by Brokerages
Methanex Co. (NASDAQ:MEOH) (TSE:MX) has been given an average rating of “Hold” by the seventeen brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $47.09.
MEOH has been the subject of a number of analyst reports. Jefferies Financial Group lifted their target price on shares of Methanex from $34.00 to $38.00 and gave the company a “hold” rating in a research note on Tuesday, September 17th. Raymond James reiterated an “outperform” rating and issued a $50.00 target price on shares of Methanex in a research note on Thursday, October 31st. Royal Bank of Canada upgraded shares of Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Wednesday, October 2nd. Barclays reduced their target price on shares of Methanex from $53.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, September 9th. Finally, TheStreet cut shares of Methanex from a “b-” rating to a “c+” rating in a research note on Friday, August 16th.
Several large investors have recently added to or reduced their stakes in MEOH. Resources Investment Advisors LLC. bought a new position in shares of Methanex in the second quarter valued at approximately $36,000. Polaris Capital Management LLC bought a new position in Methanex during the second quarter worth $43,000. FNY Investment Advisers LLC bought a new position in Methanex during the third quarter worth $141,000. Tower Research Capital LLC TRC increased its position in Methanex by 206.3% during the second quarter. Tower Research Capital LLC TRC now owns 3,504 shares of the specialty chemicals company’s stock worth $159,000 after acquiring an additional 2,360 shares during the period. Finally, Acorn Wealth Advisors LLC bought a new position in Methanex during the third quarter worth $221,000. 65.03% of the stock is currently owned by institutional investors.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, October 30th. The specialty chemicals company reported ($0.27) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.31). The business had revenue of $650.00 million during the quarter, compared to analyst estimates of $634.75 million. Methanex had a net margin of 7.73% and a return on equity of 8.64%. Methanex’s revenue was down 37.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.92 earnings per share. As a group, analysts expect that Methanex will post 0.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date is Monday, December 16th. Methanex’s dividend payout ratio is 20.99%.
Methanex Company Profile
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases 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.
Read More: CD Ladder
Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.