Methanex (NASDAQ:MEOH) Given New $66.00 Price Target at UBS Group

Methanex (NASDAQ:MEOH) (TSE:MX) had its price objective boosted by UBS Group from $53.00 to $66.00 in a report published on Friday,Benzinga reports. The brokerage currently has a buy rating on the specialty chemicals company’s stock.

Other equities analysts have also issued reports about the stock. Scotiabank boosted their price objective on shares of Methanex from $60.00 to $66.00 and gave the stock a “sector outperform” rating in a report on Thursday, January 30th. Barclays upped their price target on Methanex from $46.00 to $54.00 and gave the company an “equal weight” rating in a report on Monday, January 27th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Finally, Piper Sandler increased their price objective on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.88.

Methanex Stock Down 0.6 %

Shares of NASDAQ MEOH opened at $50.66 on Friday. The firm has a fifty day simple moving average of $48.90 and a two-hundred day simple moving average of $44.99. The firm has a market capitalization of $3.41 billion, a PE ratio of 21.93 and a beta of 1.36. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 EPS for the quarter, beating the consensus estimate of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Equities analysts expect that Methanex will post 4.2 earnings per share for the current year.

Methanex Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 17th will be given a dividend of $0.185 per share. The ex-dividend date is Monday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.46%. Methanex’s dividend payout ratio (DPR) is presently 32.03%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Dixon Mitchell Investment Counsel Inc. raised its stake in Methanex by 9.9% during the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock worth $49,022,000 after acquiring an additional 106,848 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Methanex by 4,776.7% during the 4th quarter. Bank of New York Mellon Corp now owns 900,284 shares of the specialty chemicals company’s stock worth $44,960,000 after acquiring an additional 881,823 shares in the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its holdings in shares of Methanex by 1.4% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 439,069 shares of the specialty chemicals company’s stock valued at $21,912,000 after purchasing an additional 5,947 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Methanex in the fourth quarter worth $14,327,000. Finally, Charles Schwab Investment Management Inc. raised its stake in Methanex by 4.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 213,435 shares of the specialty chemicals company’s stock valued at $10,660,000 after purchasing an additional 8,333 shares in the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.