Brokerages Set Methanex Co. (NASDAQ:MEOH) PT at $55.38

Methanex Co. (NASDAQ:MEOH - Get Free Report) TSE: MX has been assigned a consensus rating of "Moderate Buy" from the eight analysts that are currently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $55.38.

Several research analysts recently issued reports on MEOH shares. Piper Sandler upped their price target on shares of Methanex from $51.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Royal Bank of Canada reiterated a "sector perform" rating and set a $55.00 price target on shares of Methanex in a research report on Tuesday, September 3rd. Barclays downgraded shares of Methanex from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $56.00 to $44.00 in a research report on Tuesday, September 10th. Scotiabank upped their target price on shares of Methanex from $58.00 to $60.00 and gave the company a "sector outperform" rating in a research report on Wednesday, July 10th. Finally, UBS Group cut their target price on shares of Methanex from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, September 16th.

Institutional Trading of Methanex

Institutional investors and hedge funds have recently modified their holdings of the stock. Headlands Technologies LLC increased its stake in Methanex by 346.5% during the 1st quarter. Headlands Technologies LLC now owns 902 shares of the specialty chemicals company's stock worth $40,000 after purchasing an additional 700 shares in the last quarter. Larson Financial Group LLC bought a new stake in Methanex during the 1st quarter worth approximately $45,000. Blue Trust Inc. increased its stake in Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company's stock worth $70,000 after purchasing an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company's stock worth $93,000 after purchasing an additional 1,626 shares in the last quarter. Finally, Value Partners Investments Inc. bought a new stake in Methanex during the 1st quarter worth approximately $201,000. 73.49% of the stock is owned by institutional investors.

Methanex Stock Performance

Shares of Methanex stock traded down $0.49 on Thursday, reaching $39.17. The stock had a trading volume of 223,763 shares, compared to its average volume of 296,936. The business's 50-day moving average price is $41.82 and its two-hundred day moving average price is $46.35. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.87 and a current ratio of 1.25. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The stock has a market cap of $2.64 billion, a P/E ratio of 18.10 and a beta of 1.35.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.10. The firm had revenue of $920.00 million for the quarter, compared to analyst estimates of $954.26 million. Methanex had a net margin of 4.05% and a return on equity of 5.44%. The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 EPS. On average, sell-side analysts forecast that Methanex will post 2.41 EPS for the current year.

Methanex Company Profile

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.