Methanex Corporation Stock Rating Lowered by UBS AG (MEOH)
UBS AG cut shares of Methanex Corporation (NASDAQ: MEOH) from a buy rating to a neutral rating in a research note issued to investors on Thursday. The firm currently has $39.00 target price on the stock, up from their previous target price of $36.00. The analysts noted that the move was a valuation call.
Shares of Methanex Corporation opened at 38.94 on Thursday. Methanex Corporation has a one year low of $25.56 and a one year high of $39.06. The stock’s 50-day moving average is currently $35.33. The company’s market cap is $3.674 billion.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, March 31st. Shareholders of record on Sunday, March 17th will be given a dividend of $0.19 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend is Wednesday, March 13th.
A number of other firms have also recently commented on MEOH. Analysts at Scotiabank reiterated a sector outperform rating on shares of Methanex Corporation in a research note to investors on Wednesday, March 6th. Finally, analysts at Zacks reiterated a neutral rating on shares of Methanex Corporation in a research note to investors on Wednesday, February 20th. They now have a $38.00 price target on the stock.
Methanex Corporation (Methanex) produces and markets methanol, a chemical that is used to make a range of industrial, consumer and energy products.
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