Methanex (MEOH) Rating Lowered to Hold at BidaskClub

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Friday.

Other analysts also recently issued research reports about the company. Royal Bank of Canada boosted their price objective on Methanex from $70.00 to $78.00 in a research report on Friday, July 27th. Barclays began coverage on Methanex in a research report on Monday, October 8th. They issued an “equal weight” rating and a $90.00 price objective for the company. TD Securities boosted their price objective on Methanex from $76.00 to $77.00 and gave the company a “hold” rating in a research report on Friday, July 27th. Monness Crespi & Hardt boosted their price objective on Methanex from $72.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, July 27th. Finally, Citigroup boosted their price objective on Methanex from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, July 11th. Five equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $83.15.

Shares of MEOH opened at $65.89 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.70 and a debt-to-equity ratio of 0.82. Methanex has a 1 year low of $48.55 and a 1 year high of $83.23. The company has a market capitalization of $5.17 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.60 and a beta of 1.56.



Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.07). Methanex had a net margin of 12.48% and a return on equity of 34.25%. The company had revenue of $1.04 billion during the quarter. Sell-side analysts anticipate that Methanex will post 7.34 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in shares of Methanex by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 244,676 shares of the specialty chemicals company’s stock valued at $14,840,000 after acquiring an additional 980 shares in the last quarter. Advisors Preferred LLC raised its holdings 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 acquiring an additional 985 shares in the last quarter. FineMark National Bank & Trust raised its holdings in shares of Methanex by 18.9% during the second quarter. FineMark National Bank & Trust now owns 6,739 shares of the specialty chemicals company’s stock valued at $476,000 after acquiring an additional 1,070 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Methanex by 41.2% during the second quarter. Tower Research Capital LLC TRC now owns 5,082 shares of the specialty chemicals company’s stock valued at $359,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC bought a new position in shares of Methanex during the first quarter valued at approximately $120,000. Institutional investors own 76.05% of the company’s stock.

About Methanex

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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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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