BidaskClub downgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a sell rating to a strong sell rating in a research note issued to investors on Monday morning, BidAskClub reports.

Other equities research analysts have also recently issued research reports about the stock. TD Securities lifted their price target on shares of Methanex from $70.00 to $71.00 and gave the stock a buy rating in a report on Friday, April 26th. UBS Group upped their target price on shares of Methanex from $43.00 to $45.00 and gave the stock a sell rating in a research report on Thursday, April 25th. Raymond James set a $80.00 price target on shares of Methanex and gave the company an outperform rating in a research report on Monday, April 29th. ValuEngine lowered shares of Methanex from a hold rating to a sell rating in a research report on Thursday, April 11th. Finally, Tudor Pickering downgraded shares of Methanex from a buy rating to a hold rating in a research note on Friday, February 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the stock. Methanex currently has an average rating of Hold and a consensus price target of $73.60.

NASDAQ:MEOH opened at $47.06 on Monday. The company has a current ratio of 1.08, a quick ratio of 0.77 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $3.65 billion, a P/E ratio of 6.86, a P/E/G ratio of 0.82 and a beta of 1.51. Methanex has a 12 month low of $45.48 and a 12 month high of $83.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.02. The company had revenue of $773.00 million for the quarter, compared to analysts’ expectations of $790.00 million. Methanex had a net margin of 11.84% and a return on equity of 24.89%. Methanex’s revenue was down 19.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.03 EPS. As a group, sell-side analysts expect that Methanex will post 3.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, June 30th. Investors of record on Sunday, June 16th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $1.44 annualized dividend and a yield of 3.06%. This is a boost from Methanex’s previous quarterly dividend of $0.33. Methanex’s dividend payout ratio (DPR) is currently 19.24%.

Hedge funds have recently modified their holdings of the stock. Nordea Investment Management AB purchased a new stake in Methanex during the third quarter worth $449,000. Vanguard Group Inc. boosted its position in shares of Methanex by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 2,201,920 shares of the specialty chemicals company’s stock worth $174,171,000 after buying an additional 16,112 shares in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Methanex by 415.7% in the 4th quarter. Quadrant Capital Group LLC now owns 1,671 shares of the specialty chemicals company’s stock worth $78,000 after buying an additional 1,347 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Methanex by 120.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 103,915 shares of the specialty chemicals company’s stock worth $4,996,000 after buying an additional 56,872 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in shares of Methanex by 15.7% in the 4th quarter. Oppenheimer & Co. Inc. now owns 20,975 shares of the specialty chemicals company’s stock worth $1,010,000 after buying an additional 2,850 shares in the last quarter. Institutional investors own 70.71% of the company’s stock.

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.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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