Methanex Corporation (NASDAQ:MEOH) (TSE:MX) had its price target raised by TD Securities to $71.00 in a research report report published on Monday. The firm currently has a buy rating on the specialty chemicals company’s stock.

A number of other analysts have also issued reports on MEOH. Zacks Investment Research lowered shares of Methanex Corporation from a strong-buy rating to a hold rating in a research note on Tuesday, May 23rd. Citigroup Inc. reiterated a neutral rating and set a $45.00 price target (down from $50.00) on shares of Methanex Corporation in a research note on Thursday, June 1st. BidaskClub upgraded shares of Methanex Corporation from a strong sell rating to a sell rating in a research note on Wednesday, June 14th. ValuEngine upgraded shares of Methanex Corporation from a hold rating to a buy rating in a research note on Friday, June 16th. Finally, BMO Capital Markets reiterated a buy rating on shares of Methanex Corporation in a research note on Friday, June 30th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. Methanex Corporation has a consensus rating of Hold and an average target price of $57.93.

Methanex Corporation (MEOH) opened at 52.25 on Monday. The firm’s 50-day moving average is $47.14 and its 200 day moving average is $45.17. Methanex Corporation has a one year low of $28.77 and a one year high of $53.35. The company has a market capitalization of $4.50 billion, a PE ratio of 20.33 and a beta of 1.74.

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by ($0.23). The business had revenue of $669.00 million for the quarter, compared to analysts’ expectations of $772.41 million. Methanex Corporation had a return on equity of 12.43% and a net margin of 8.92%. The firm’s revenue for the quarter was up 42.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.34) earnings per share. On average, equities analysts expect that Methanex Corporation will post $3.86 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Saturday, September 16th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, September 14th. Methanex Corporation’s dividend payout ratio is presently 47.81%.

Methanex Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, July 26th that allows the company to repurchase 1,660,000 shares. This repurchase authorization allows the specialty chemicals company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Marshall Wace North America L.P. boosted its holdings in Methanex Corporation by 76.1% in the second quarter. Marshall Wace North America L.P. now owns 101,307 shares of the specialty chemicals company’s stock valued at $4,458,000 after purchasing an additional 43,776 shares in the last quarter. Intact Investment Management Inc. boosted its holdings in Methanex Corporation by 43.4% in the second quarter. Intact Investment Management Inc. now owns 64,800 shares of the specialty chemicals company’s stock valued at $3,696,000 after purchasing an additional 19,600 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Methanex Corporation by 17.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,546 shares of the specialty chemicals company’s stock valued at $2,008,000 after purchasing an additional 6,822 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Methanex Corporation by 149.9% in the first quarter. Tower Research Capital LLC TRC now owns 6,726 shares of the specialty chemicals company’s stock valued at $315,000 after purchasing an additional 4,034 shares in the last quarter. Finally, Jane Street Group LLC boosted its holdings in Methanex Corporation by 73.2% in the first quarter. Jane Street Group LLC now owns 17,129 shares of the specialty chemicals company’s stock valued at $803,000 after purchasing an additional 7,237 shares in the last quarter. 81.91% of the stock is owned by hedge funds and other institutional investors.

Methanex Corporation Company Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Analyst Recommendations for Methanex Corporation (NASDAQ:MEOH)

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