Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX's stock had its "sector perform" rating reiterated by stock analysts at Royal Bank of Canada in a research note issued on Tuesday,Benzinga reports. They presently have a $55.00 target price on the specialty chemicals company's stock. Royal Bank of Canada's target price would indicate a potential upside of 91.50% from the stock's previous close.
A number of other research firms have also recently commented on MEOH. UBS Group boosted their target price on shares of Methanex from $53.00 to $66.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. CIBC reissued an "outperform" rating on shares of Methanex in a report on Monday, February 3rd. Scotiabank lowered Methanex from a "sector outperform" rating to a "sector perform" rating and lowered their price target for the stock from $66.00 to $53.00 in a research note on Monday, March 10th. Raymond James increased their price objective on Methanex from $54.00 to $60.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Finally, Cibc World Mkts raised shares of Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $57.63.
Get Our Latest Report on MEOH
Methanex Price Performance
MEOH stock traded down $2.36 during mid-day trading on Tuesday, reaching $28.72. 1,902,380 shares of the company's stock were exchanged, compared to its average volume of 345,427. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.62 and a quick ratio of 2.00. Methanex has a 12-month low of $27.35 and a 12-month high of $56.43. The stock's 50 day moving average is $42.47 and its 200 day moving average is $43.99. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 12.43 and a beta of 1.06.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. On average, research analysts expect that Methanex will post 4.32 EPS for the current year.
Hedge Funds Weigh In On Methanex
Several institutional investors and hedge funds have recently bought and sold shares of MEOH. Pictet Asset Management Holding SA raised its position in shares of Methanex by 2.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company's stock valued at $573,000 after buying an additional 293 shares during the period. Blue Trust Inc. raised its position in Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company's stock valued at $142,000 after purchasing an additional 371 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of Methanex by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock valued at $588,000 after purchasing an additional 383 shares during the last quarter. PCJ Investment Counsel Ltd. grew its holdings in shares of Methanex by 3.6% during the 4th quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company's stock worth $589,000 after purchasing an additional 410 shares during the period. Finally, Value Partners Investments Inc. increased its position in shares of Methanex by 7.3% during the 4th quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company's stock worth $302,000 after purchasing an additional 411 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.
About Methanex
(
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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.
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