Methanex (MEOH) Stock Rating Lowered by BidaskClub
BidaskClub lowered shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a strong-buy rating to a buy rating in a report issued on Tuesday.
A number of other research analysts also recently commented on MEOH. TD Securities downgraded Methanex from a buy rating to a hold rating and set a $66.00 price target for the company. in a research note on Monday, January 8th. They noted that the move was a valuation call. Alembic Global Advisors reaffirmed a buy rating on shares of Methanex in a research note on Monday, January 8th. Scotiabank reaffirmed a hold rating and issued a $63.00 price target (up previously from $57.50) on shares of Methanex in a research note on Wednesday, January 3rd. Jefferies Group boosted their price target on Methanex to $72.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. Finally, Royal Bank of Canada reissued a hold rating and set a $63.00 target price on shares of Methanex in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company’s stock. Methanex currently has a consensus rating of Hold and an average price target of $57.20.
Methanex (NASDAQ MEOH) traded up $0.45 during mid-day trading on Tuesday, reaching $61.25. The company had a trading volume of 706,242 shares, compared to its average volume of 491,815. The firm has a market capitalization of $5,103.31, a P/E ratio of 20.35, a PEG ratio of 0.89 and a beta of 1.82. Methanex has a fifty-two week low of $39.47 and a fifty-two week high of $64.40. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59.
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, December 14th. Methanex’s payout ratio is 39.87%.
A number of hedge funds and other institutional investors have recently modified their holdings of MEOH. Gotham Asset Management LLC acquired a new position in Methanex during the second quarter worth about $23,031,000. Renaissance Technologies LLC grew its holdings in shares of Methanex by 98.4% during the second quarter. Renaissance Technologies LLC now owns 378,098 shares of the specialty chemicals company’s stock worth $16,659,000 after purchasing an additional 187,500 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Methanex by 53.2% during the third quarter. Canada Pension Plan Investment Board now owns 380,459 shares of the specialty chemicals company’s stock worth $19,074,000 after purchasing an additional 132,101 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Methanex by 3,077.5% during the second quarter. JPMorgan Chase & Co. now owns 97,072 shares of the specialty chemicals company’s stock worth $4,277,000 after purchasing an additional 94,017 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of Methanex by 29.3% during the second quarter. Ameriprise Financial Inc. now owns 405,236 shares of the specialty chemicals company’s stock worth $17,852,000 after purchasing an additional 91,829 shares during the last quarter. 83.07% of the stock is owned by hedge funds and other institutional investors.
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Methanex 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.
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