Methanex (NASDAQ:MEOH) Hits New 1-Year Low – What’s Next?

Methanex Co. (NASDAQ:MEOH) (TSE:MX)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $35.67 and last traded at $36.80, with a volume of 1693906 shares changing hands. The stock had previously closed at $42.25.

Analyst Ratings Changes

Several research analysts have weighed in on MEOH shares. UBS Group increased their price target on shares of Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Piper Sandler increased their price target on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a report on Tuesday, November 19th. CIBC reissued an “outperform” rating on shares of Methanex in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Friday, January 31st. Finally, Raymond James increased their price target on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $60.63.

Methanex Stock Performance

The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 15.93 and a beta of 1.38. The stock’s 50-day simple moving average is $47.71 and its 200-day simple moving average is $44.89.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.30. Methanex had a net margin of 4.41% and a return on equity of 10.97%. Analysts forecast that Methanex Co. will post 4.32 earnings per share for the current fiscal year.

Methanex Dividend Announcement

The company also recently declared 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 dividend yield of 2.01%. Methanex’s dividend payout ratio is 32.03%.

Institutional Trading of Methanex

Several large investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Methanex by 1.3% during the 4th quarter. Wellington Management Group LLP now owns 4,836,661 shares of the specialty chemicals company’s stock worth $241,549,000 after acquiring an additional 62,467 shares in the last quarter. FMR LLC lifted its stake in Methanex by 3.0% in the 4th quarter. FMR LLC now owns 3,330,889 shares of the specialty chemicals company’s stock valued at $166,384,000 after purchasing an additional 95,950 shares during the last quarter. Vanguard Group Inc. lifted its stake in Methanex by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 2,116,860 shares of the specialty chemicals company’s stock valued at $105,779,000 after purchasing an additional 37,658 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Methanex by 26.6% in the 4th quarter. Mackenzie Financial Corp now owns 1,077,193 shares of the specialty chemicals company’s stock valued at $53,770,000 after purchasing an additional 226,349 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Methanex by 5.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,047,978 shares of the specialty chemicals company’s stock valued at $52,334,000 after purchasing an additional 50,075 shares during the last quarter. Institutional investors and hedge funds 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.