Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by investment analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Friday.
Several other research firms have also weighed in on MEOH. TD Securities raised their price objective on shares of Methanex from $71.00 to $76.00 and gave the stock a “hold” rating in a report on Wednesday, July 11th. Jefferies Financial Group raised their price objective on shares of Methanex from $72.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 8th. Citigroup raised their price objective on shares of Methanex from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 11th. Royal Bank of Canada raised their price objective on shares of Methanex from $70.00 to $78.00 in a report on Friday, July 27th. Finally, Zacks Investment Research raised shares of Methanex from a “hold” rating to a “strong-buy” rating and set a $82.00 price objective for the company in a report on Tuesday, June 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. Methanex currently has an average rating of “Buy” and an average price target of $76.55.
NASDAQ:MEOH opened at $79.40 on Friday. Methanex has a 12-month low of $48.55 and a 12-month high of $81.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.18. The stock has a market capitalization of $6.29 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 0.82 and a beta of 1.60.
Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, July 25th. The specialty chemicals company reported $1.75 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. The company had revenue of $950.00 million during the quarter, compared to analyst estimates of $872.10 million. Methanex had a net margin of 10.90% and a return on equity of 28.64%. The company’s revenue was up 42.0% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. equities analysts predict that Methanex will post 6.44 EPS for the current fiscal year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Methanex during the first quarter valued at approximately $120,000. Highstreet Asset Management Inc. bought a new stake in shares of Methanex during the second quarter valued at approximately $183,000. Advisors Preferred LLC grew its stake in shares of Methanex by 57.8% during the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock valued at $190,000 after purchasing an additional 985 shares during the last quarter. One Capital Management LLC bought a new stake in shares of Methanex during the second quarter valued at approximately $212,000. Finally, Suntrust Banks Inc. bought a new stake in shares of Methanex during the first quarter valued at approximately $212,000. 75.87% of the stock is currently owned by institutional investors and hedge funds.
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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