Methanex Co. (NASDAQ:MEOH) had its target price cut by Raymond James from $43.00 to $32.00 in a research report sent to investors on Friday, AnalystRatings.Net reports. They currently have a market perform rating on the stock.

Several other equities analysts have also issued reports on MEOH. CIBC dropped their price objective on Methanex to $46.00 in a report on Monday, October 19th. Scotiabank reaffirmed a sector outperform rating and set a $50.00 price objective (down previously from $52.00) on shares of Methanex in a report on Thursday, October 29th. RBC Capital dropped their price objective on Methanex from $56.00 to $45.00 and set a sector perform rating on the stock in a report on Friday, October 30th. Monness Crespi & Hardt dropped their price objective on Methanex from $66.00 to $48.00 in a report on Friday, October 30th. Finally, Cowen and Company lowered their price target on Methanex from $52.00 to $50.00 and set a buy rating on the stock in a report on Tuesday, November 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have issued a buy rating to the company. Methanex currently has an average rating of Hold and an average price target of $40.20.

A number of hedge funds have made changes to their positions in the company. Great West Life Assurance Co. Can boosted its stake in shares of Methanex by 16.5% in the fourth quarter. Great West Life Assurance Co. Can now owns 901,825 shares of the company’s stock worth $29,856,000 after buying an additional 127,911 shares during the period. Nationwide Fund Advisors raised its position in shares of Methanex by 31.7% in the fourth quarter. Nationwide Fund Advisors now owns 112,123 shares of the company’s stock worth $3,701,000 after buying an additional 27,000 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Methanex by 64.9% in the fourth quarter. Neuberger Berman Group LLC now owns 2,034,169 shares of the company’s stock worth $67,148,000 after buying an additional 800,895 shares in the last quarter. BB&T Corp raised its position in shares of Methanex by 4.0% in the fourth quarter. BB&T Corp now owns 18,848 shares of the company’s stock worth $622,000 after buying an additional 722 shares in the last quarter. Finally, Stonebridge Capital Management Inc. raised its position in shares of Methanex by 1.6% in the fourth quarter. Stonebridge Capital Management Inc. now owns 9,825 shares of the company’s stock worth $325,000 after buying an additional 155 shares in the last quarter.

Shares of Methanex (NASDAQ:MEOH) traded down 5.483% on Friday, reaching $25.066. The company had a trading volume of 2,059,012 shares. The firm has a market capitalization of $2.25 billion and a PE ratio of 12.464. Methanex has a 12 month low of $23.08 and a 12 month high of $61.40. The firm’s 50 day moving average is $29.65 and its 200 day moving average is $38.02.

Methanex (NASDAQ:MEOH) last issued its quarterly earnings data on Wednesday, January 27th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by $0.02. On average, equities research analysts expect that Methanex will post $1.90 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 31st. Investors of record on Thursday, March 17th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Tuesday, March 15th. This represents a $1.10 dividend on an annualized basis and a yield of 4.52%.

Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific, North America, Europe and South America. The Company operates three production facilities in New Zealand, which supply methanol primarily to customers in Asia Pacific. Its two plants in Trinidad, Titan and Atlas, supply methanol markets in North America, Europe, Asia Pacific and South America. Its Geismar 1 facility in Louisiana supplies to customers in the United States. The Company through a joint venture facility in Egypt, located on the Mediterranean Sea, supplies methanol markets in Europe and Asia Pacific. Its plant in Medicine Hat, Alberta, supplies methanol to customers in North America. The Punta Arenas production complex in southern Chile supplies to customers in South America.

12 Month Chart for NASDAQ:MEOH

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