Methanex (TSE:MX) Stock Price Up 9.6% – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shot up 9.6% during trading on Monday . The company traded as high as C$74.00 and last traded at C$74.00. 147,008 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 247,340 shares. The stock had previously closed at C$67.53.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MX. Raymond James Financial cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Canadian Imperial Bank of Commerce lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. Finally, Scotiabank increased their price objective on Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$50.00.

Methanex Trading Up 8.0%

The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 143.59. The stock’s 50 day moving average is C$65.02 and its two-hundred day moving average is C$56.51. The company has a market capitalization of C$5.64 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 0.44 and a beta of 1.06.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share (EPS) for the quarter. The business had revenue of C$1.28 billion for the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. As a group, sell-side analysts predict that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

About Methanex

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.