BidaskClub upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.
A number of other research analysts have also recently issued reports on MEOH. Royal Bank of Canada reaffirmed a hold rating on shares of Methanex in a report on Friday, August 25th. Cowen restated a buy rating and set a $55.00 target price on shares of Methanex in a research report on Friday, September 1st. Jefferies Group raised their target price on shares of Methanex to $60.00 and gave the stock a buy rating in a research report on Tuesday, September 12th. TD Securities raised their target price on shares of Methanex to $71.00 and gave the stock a buy rating in a research report on Monday, September 18th. Finally, Zacks Investment Research upgraded shares of Methanex from a strong sell rating to a hold rating in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $56.47.
Shares of Methanex (NASDAQ MEOH) traded up $0.55 during trading on Friday, reaching $59.50. 528,704 shares of the company’s stock were exchanged, compared to its average volume of 601,898. Methanex has a 12 month low of $39.47 and a 12 month high of $59.75. 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 stock has a market capitalization of $4,948.03, a PE ratio of 19.77, a PEG ratio of 1.04 and a beta of 1.82.
The business also recently declared a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th will be issued a $0.30 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. Methanex’s dividend payout ratio (DPR) is presently 39.87%.
Institutional investors and hedge funds have recently made changes to their positions in the business. ETRADE Capital Management LLC acquired a new position in shares of Methanex in the 3rd quarter valued at $241,000. AHL Partners LLP purchased a new position in shares of Methanex in the 2nd quarter valued at $300,000. PNC Financial Services Group Inc. raised its stake in shares of Methanex by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after acquiring an additional 259 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Methanex in the 2nd quarter valued at $321,000. Finally, Guardian Capital Advisors LP raised its stake in shares of Methanex by 43.0% in the 3rd quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock valued at $475,000 after acquiring an additional 2,240 shares during the period. Institutional investors own 83.07% of the company’s stock.
TRADEMARK VIOLATION NOTICE: “Methanex (MEOH) Upgraded by BidaskClub to “Strong-Buy”” was originally reported by Community Financial News and is owned by of Community Financial News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.com-unik.info/2017/12/23/methanex-meoh-upgraded-by-bidaskclub-to-strong-buy.html.
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.
What are top analysts saying about Methanex? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Methanex and related companies.