Methanex (MEOH) Upgraded to Buy at ValuEngine

Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Saturday.

A number of other research analysts have also recently issued reports on MEOH. Jefferies Financial Group lifted their price objective on Methanex from $72.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 8th. Zacks Investment Research raised 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. BidaskClub raised Methanex from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 13th. Citigroup lifted their price objective on Methanex from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 11th. Finally, TD Securities lifted their price objective on Methanex from $71.00 to $76.00 and gave the company a “hold” rating in a report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. Methanex presently has an average rating of “Buy” and a consensus target price of $77.00.

Shares of MEOH stock opened at $81.86 on Friday. The firm has a market capitalization of $6.24 billion, a P/E ratio of 17.38, a PEG ratio of 0.82 and a beta of 1.55. Methanex has a one year low of $48.55 and a one year high of $83.23. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.62 and a quick ratio of 1.18.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, hitting the consensus estimate of $1.75. The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $872.10 million. Methanex had a return on equity of 28.64% and a net margin of 10.90%. Methanex’s quarterly revenue was up 42.0% compared to the same quarter last year. During the same period last year, the business earned $0.85 earnings per share. As a group, sell-side analysts predict that Methanex will post 6.44 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. CIBC World Markets Inc. increased its stake in shares of Methanex by 221.3% in the first quarter. CIBC World Markets Inc. now owns 465,430 shares of the specialty chemicals company’s stock valued at $28,228,000 after buying an additional 320,567 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Methanex by 60.1% in the second quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock valued at $42,525,000 after buying an additional 226,000 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Methanex by 173.8% in the second quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock valued at $24,753,000 after buying an additional 222,338 shares in the last quarter. Addenda Capital Inc. increased its stake in shares of Methanex by 78.0% in the second quarter. Addenda Capital Inc. now owns 477,338 shares of the specialty chemicals company’s stock valued at $31,014,000 after buying an additional 209,236 shares in the last quarter. Finally, Strs Ohio acquired a new stake in shares of Methanex in the second quarter valued at $13,345,000. 76.39% of the stock is owned by institutional investors.

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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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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