Methanex (NASDAQ:MEOH) (TSE:MX) had its price target reduced by equities researchers at Citigroup from $84.00 to $72.00 in a research note issued to investors on Monday, October 29th. The firm currently has a “hold” rating on the specialty chemicals company’s stock. Citigroup’s price target points to a potential upside of 27.01% from the company’s previous close.
Several other research firms have also weighed in on MEOH. ValuEngine raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Barclays began coverage on shares of Methanex in a report on Monday, October 8th. They set an “equal weight” rating and a $90.00 target price for the company. Royal Bank of Canada lifted their target price on shares of Methanex from $78.00 to $83.00 and gave the company a “sector perform” rating in a report on Monday, October 1st. BidaskClub raised shares of Methanex from a “buy” rating to a “strong-buy” rating in a report on Friday, September 28th. Finally, Monness Crespi & Hardt lifted their target price on shares of Methanex from $75.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $82.36.
Shares of NASDAQ:MEOH traded up $0.82 during trading on Monday, hitting $56.69. 488,841 shares of the stock traded hands, compared to its average volume of 729,652. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.70 and a quick ratio of 1.27. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.54 and a beta of 1.62. Methanex has a 52-week low of $51.00 and a 52-week high of $83.23.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.07). The firm had revenue of $1.04 billion for the quarter. Methanex had a net margin of 12.48% and a return on equity of 34.25%. On average, sell-side analysts anticipate that Methanex will post 6.88 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of MEOH. Mount Yale Investment Advisors LLC purchased a new stake in Methanex in the 1st quarter worth $120,000. SG Americas Securities LLC purchased a new stake in Methanex in the 3rd quarter worth $181,000. Highstreet Asset Management Inc. purchased a new stake in Methanex in the 2nd quarter worth $183,000. Cerebellum GP LLC purchased a new stake in Methanex in the 3rd quarter worth $188,000. Finally, Advisors Preferred LLC increased its holdings in Methanex by 57.8% in the 2nd quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock worth $190,000 after acquiring an additional 985 shares in the last quarter. 74.99% of the stock is owned by institutional investors.
Methanex Company Profile
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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