Methanex (MEOH) Downgraded by Zacks Investment Research

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Monday.

According to Zacks, “Methanex’s profits increased year over year in fourth-quarter 2018. However, adjusted earnings missed the Zacks Consensus Estimate. Methanex is exposed to a volatile methanol pricing environment. Lower expected methanol prices are likely to weigh on its margins in first-quarter 2019. Moreover, it continues to face headwinds due to curtailment of gas supply. Production outages are also affecting its operations.”

A number of other research analysts also recently issued reports on MEOH. Tudor Pickering downgraded Methanex from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. BidaskClub downgraded Methanex from a “buy” rating to a “hold” rating in a research note on Friday, October 26th. ValuEngine upgraded Methanex from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. reiterated a “buy” rating on shares of Methanex in a research note on Monday, November 5th. Finally, TD Securities cut their price objective on Methanex from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company’s stock. Methanex has a consensus rating of “Hold” and a consensus price target of $78.43.

Shares of NASDAQ MEOH traded up $0.47 during midday trading on Monday, hitting $53.08. 7,232 shares of the company’s stock traded hands, compared to its average volume of 474,320. The firm has a market capitalization of $4.06 billion, a P/E ratio of 7.74, a PEG ratio of 0.66 and a beta of 1.62. The company has a quick ratio of 0.83, a current ratio of 1.20 and a debt-to-equity ratio of 0.59. Methanex has a 1 year low of $45.48 and a 1 year high of $83.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings data on Wednesday, January 30th. The specialty chemicals company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.75 by ($0.60). The company had revenue of $977.00 million for the quarter, compared to the consensus estimate of $986.13 million. Methanex had a net margin of 14.48% and a return on equity of 31.00%. The company’s revenue was up 13.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.70 earnings per share. As a group, equities research analysts anticipate that Methanex will post 5.34 EPS for the current year.

Hedge funds have recently bought and sold shares of the business. United Services Automobile Association bought a new position in Methanex in the 3rd quarter worth approximately $565,000. CIBC World Markets Inc. raised its holdings in shares of Methanex by 3.8% during the 3rd quarter. CIBC World Markets Inc. now owns 494,950 shares of the specialty chemicals company’s stock worth $39,151,000 after acquiring an additional 17,897 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Methanex by 92.8% during the 3rd quarter. Schroder Investment Management Group now owns 26,800 shares of the specialty chemicals company’s stock worth $2,733,000 after acquiring an additional 12,900 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Methanex during the 3rd quarter worth approximately $498,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Methanex by 35.5% during the 3rd quarter. Canada Pension Plan Investment Board now owns 815,579 shares of the specialty chemicals company’s stock worth $64,333,000 after acquiring an additional 213,820 shares in the last quarter. Institutional investors and hedge funds own 72.00% of the company’s stock.

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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