Methanex (MEOH) Earns “Buy” Rating from MED

MED reiterated their buy rating on shares of Methanex (NASDAQ:MEOH) (TSE:MX) in a research report released on Thursday morning. The brokerage currently has a $80.00 target price on the specialty chemicals company’s stock.

“We rate Methanex shares Overweight, with a 12-month target price of USD80 per share.”,” the firm’s analyst wrote.

MEOH has been the subject of a number of other reports. ValuEngine downgraded shares of Methanex from a buy rating to a hold rating in a research note on Tuesday, September 4th. Monness Crespi & Hardt increased their price target on shares of Methanex from $75.00 to $86.00 and gave the stock a buy rating in a research note on Tuesday, September 25th. Cowen increased their price target on shares of Methanex from $80.00 to $89.00 and gave the stock an outperform rating in a research note on Monday, October 15th. Royal Bank of Canada increased their price target on shares of Methanex from $78.00 to $83.00 and gave the stock a sector perform rating in a research note on Monday, October 1st. Finally, BidaskClub downgraded shares of Methanex from a strong-buy rating to a buy rating in a research note on Thursday, October 11th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. Methanex has a consensus rating of Buy and an average price target of $83.15.



Shares of NASDAQ:MEOH opened at $65.89 on Thursday. The stock has a market cap of $5.17 billion, a PE ratio of 13.99, a PEG ratio of 0.60 and a beta of 1.55. The company has a quick ratio of 1.27, a current ratio of 1.70 and a debt-to-equity ratio of 0.82. Methanex has a 12 month low of $48.55 and a 12 month high of $83.23.

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

A number of institutional investors and hedge funds have recently made changes to their positions in MEOH. Dimensional Fund Advisors LP grew its holdings in Methanex by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 244,676 shares of the specialty chemicals company’s stock worth $14,840,000 after purchasing an additional 980 shares during the period. UBS Group AG grew its holdings in Methanex by 116.7% in the first quarter. UBS Group AG now owns 67,517 shares of the specialty chemicals company’s stock worth $4,095,000 after purchasing an additional 36,358 shares during the period. Barclays PLC grew its holdings in Methanex by 7,510.0% in the first quarter. Barclays PLC now owns 7,610 shares of the specialty chemicals company’s stock worth $462,000 after purchasing an additional 7,510 shares during the period. Millennium Management LLC grew its holdings in Methanex by 521.2% in the first quarter. Millennium Management LLC now owns 134,345 shares of the specialty chemicals company’s stock worth $8,148,000 after purchasing an additional 112,719 shares during the period. Finally, Suntrust Banks Inc. purchased a new stake in Methanex in the first quarter worth about $212,000. Institutional investors and hedge funds own 76.07% 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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