Methanex (MEOH) Lowered to Hold at TD Securities
TD Securities lowered shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a hold rating in a report published on Monday, MarketBeat Ratings reports. TD Securities currently has $66.00 price objective on the specialty chemicals company’s stock. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on MEOH. BidaskClub raised shares of Methanex from a buy rating to a strong-buy rating in a research report on Friday, December 22nd. Scotiabank reaffirmed a hold rating and issued a $63.00 price target (up previously from $57.50) on shares of Methanex in a research report on Wednesday, January 3rd. Cowen reaffirmed an outperform rating and issued a $65.00 price target (up previously from $58.00) on shares of Methanex in a research report on Thursday, December 14th. Royal Bank of Canada reiterated a hold rating on shares of Methanex in a research note on Wednesday, September 27th. Finally, UBS Group increased their price objective on shares of Methanex from $42.00 to $44.00 and gave the company a sell rating in a research note on Friday, October 13th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $57.20.
Methanex (MEOH) opened at $60.80 on Monday. Methanex has a 1 year low of $39.47 and a 1 year high of $64.40. The firm has a market cap of $5,130.00, a PE ratio of 19.80, a P/E/G ratio of 0.92 and a beta of 1.81. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Methanex had a net margin of 5.33% and a return on equity of 8.31%. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $614.19 million. During the same quarter last year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 41.2% compared to the same quarter last year. equities analysts expect that Methanex will post 3.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th were paid a $0.30 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.97%. Methanex’s dividend payout ratio (DPR) is 39.09%.
A number of large investors have recently bought and sold shares of MEOH. ETRADE Capital Management LLC purchased a new stake in shares of Methanex during the 3rd quarter worth approximately $241,000. AHL Partners LLP purchased a new stake in shares of Methanex during the 2nd quarter worth approximately $300,000. PNC Financial Services Group Inc. increased its stake in shares of Methanex by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in shares of Methanex during the 2nd quarter worth approximately $321,000. Finally, Trexquant Investment LP purchased a new stake in shares of Methanex during the 3rd quarter worth approximately $388,000. Hedge funds and other institutional investors own 83.07% of the company’s stock.
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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.
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