Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a neutral rating to a buy rating in a report released on Wednesday morning, AR Network reports. They currently have $55.00 target price on the specialty chemicals company’s stock, up from their previous target price of $33.00.
A number of other equities research analysts also recently weighed in on MEOH. Sanford C. Bernstein downgraded Methanex from a market perform rating to an underperform rating in a research report on Monday, November 30th. TheStreet downgraded Methanex from a c rating to a d+ rating in a research report on Thursday, October 1st. Royal Bank of Canada downgraded Methanex from an outperform rating to a sector perform rating and boosted their target price for the stock from $48.00 to $50.00 in a research report on Monday, January 4th. Scotiabank downgraded Methanex from a sector outperform rating to a sector perform rating in a research report on Wednesday. Finally, UBS Group upped their price objective on Methanex from $8.00 to $11.00 and gave the company a sell rating in a report on Tuesday, October 6th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $40.33.
Shares of MEOH stock traded down $2.19 on Wednesday, reaching $45.81. 292,419 shares of the stock were exchanged, compared to its average volume of 299,423. The stock has a market cap of $3.49 billion, a PE ratio of -27.43 and a beta of 2.22. Methanex has a one year low of $9.00 and a one year high of $49.27. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.91 and a quick ratio of 1.61. The stock has a 50 day moving average price of $43.74 and a 200 day moving average price of $28.81.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 28th. The specialty chemicals company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.94) by ($0.09). The firm had revenue of $581.00 million for the quarter, compared to the consensus estimate of $442.00 million. Methanex had a negative return on equity of 7.82% and a negative net margin of 4.84%. On average, research analysts expect that Methanex will post -1.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th were paid a $0.028 dividend. The ex-dividend date was Wednesday, December 16th. This represents a $0.11 dividend on an annualized basis and a yield of 0.24%. Methanex’s payout ratio is 16.13%.
Large investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. grew its stake in Methanex by 37.7% in the second quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the specialty chemicals company’s stock valued at $53,000 after acquiring an additional 786 shares during the period. SG Americas Securities LLC acquired a new position in shares of Methanex during the third quarter worth about $109,000. NEXT Financial Group Inc acquired a new position in shares of Methanex during the third quarter worth about $120,000. Acorn Wealth Advisors LLC acquired a new position in shares of Methanex during the third quarter worth about $232,000. Finally, Astoria Strategic Wealth Inc. acquired a new position in shares of Methanex during the third quarter worth about $255,000. 52.13% of the stock is owned by hedge funds and other institutional investors.
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. In addition, the company owns and leases storage and terminal facilities. It owns and manages a fleet of approximately 30 ocean-going vessels.
Featured Story: Compound Interest
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.