Methanex (NASDAQ:MEOH) Upgraded to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a strong-buy rating in a research note issued to investors on Wednesday morning, BidAskClub reports.

MEOH has been the subject of a number of other research reports. Barclays increased their target price on shares of Methanex from $18.00 to $23.00 and gave the stock an equal weight rating in a research report on Thursday, October 1st. TD Securities raised their price target on shares of Methanex from $21.00 to $29.00 and gave the company a hold rating in a report on Thursday, October 8th. Scotiabank raised their price target on shares of Methanex from $31.00 to $36.00 and gave the company a sector outperform rating in a report on Thursday, October 15th. Tudor Pickering & Holt set a $17.00 price target on shares of Methanex and gave the company a sell rating in a report on Wednesday, September 30th. Finally, UBS Group raised their price target on shares of Methanex from $8.00 to $11.00 and gave the company a sell rating in a report on Tuesday, October 6th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $25.86.

MEOH stock opened at $29.24 on Wednesday. Methanex has a 12-month low of $9.00 and a 12-month high of $42.19. The company has a quick ratio of 1.70, a current ratio of 2.12 and a debt-to-equity ratio of 1.73. The company has a market cap of $2.23 billion, a price-to-earnings ratio of -40.05 and a beta of 2.18. The company has a 50 day moving average of $25.68 and a two-hundred day moving average of $20.35.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 28th. The specialty chemicals company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.98) by ($0.05). Methanex had a negative return on equity of 4.07% and a negative net margin of 1.66%. On average, research analysts anticipate that Methanex will post -1.69 EPS for the current year.

Several large investors have recently added to or reduced their stakes in MEOH. FMR LLC lifted its holdings in shares of Methanex by 42.7% during the 1st quarter. FMR LLC now owns 84,045 shares of the specialty chemicals company’s stock worth $4,774,000 after acquiring an additional 25,157 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Methanex by 23.6% during the 1st quarter. Geode Capital Management LLC now owns 186,770 shares of the specialty chemicals company’s stock worth $2,348,000 after acquiring an additional 35,696 shares during the period. Morgan Stanley lifted its holdings in shares of Methanex by 104.1% during the 1st quarter. Morgan Stanley now owns 741,097 shares of the specialty chemicals company’s stock worth $9,018,000 after acquiring an additional 378,080 shares during the period. Engineers Gate Manager LP bought a new position in shares of Methanex during the 1st quarter worth about $264,000. Finally, Voloridge Investment Management LLC bought a new position in shares of Methanex during the 1st quarter worth about $242,000. 58.75% of the stock is owned by institutional investors.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, the company owns and leases storage and terminal facilities. It owns and manages a fleet of approximately 30 ocean-going vessels.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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