Methanex (NASDAQ:MEOH) Stock Rating Upgraded by Raymond James

Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a report issued on Tuesday, FlyOnTheWall reports.

A number of other analysts have also recently weighed in on MEOH. SpectralCast restated a “maintains” rating on shares of Methanex in a report on Thursday, June 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price target on shares of Methanex in a report on Tuesday, September 5th. Barclays lowered their price target on shares of Methanex from $56.00 to $50.00 in a report on Tuesday, July 11th. Scotiabank cut shares of Methanex from a “sector outperform” rating to a “sector perform” rating and lowered their target price for the stock from $60.00 to $47.00 in a research note on Monday, June 12th. Finally, Jefferies Financial Group lowered their target price on shares of Methanex from $58.00 to $53.00 in a research note on Thursday, June 22nd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $53.90.

Methanex Trading Down 1.0 %

NASDAQ MEOH opened at $41.16 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.34 and a current ratio of 1.87. The company has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.45 and a beta of 1.62. The company’s 50-day simple moving average is $42.77 and its two-hundred day simple moving average is $43.54. Methanex has a one year low of $28.73 and a one year high of $54.83.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Methanex had a net margin of 5.70% and a return on equity of 9.09%. The business had revenue of $939.00 million for the quarter, compared to the consensus estimate of $886.52 million. During the same quarter last year, the firm posted $1.16 EPS. The company’s revenue for the quarter was down 17.4% on a year-over-year basis. Equities analysts forecast that Methanex will post 1.41 EPS for the current fiscal year.

Institutional Trading of Methanex

Several institutional investors and hedge funds have recently bought and sold shares of MEOH. JPMorgan Chase & Co. lifted its stake in Methanex by 178.4% during the 1st quarter. JPMorgan Chase & Co. now owns 53,409 shares of the specialty chemicals company’s stock valued at $2,914,000 after acquiring an additional 34,223 shares during the period. Citigroup Inc. acquired a new stake in Methanex during the 1st quarter valued at approximately $230,000. Great West Life Assurance Co. Can lifted its stake in Methanex by 27.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 7,845 shares of the specialty chemicals company’s stock valued at $456,000 after acquiring an additional 1,691 shares during the period. Cibc World Market Inc. lifted its stake in Methanex by 65.0% during the 1st quarter. Cibc World Market Inc. now owns 57,960 shares of the specialty chemicals company’s stock valued at $3,162,000 after acquiring an additional 22,826 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Methanex by 5.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 455,377 shares of the specialty chemicals company’s stock valued at $24,846,000 after purchasing an additional 24,201 shares in the last quarter. 71.00% of the stock is currently owned by institutional investors and hedge funds.

Methanex Company Profile

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