Methanex Corporation (NASDAQ:MEOH) (TSE:MX)‘s stock had its “buy” rating reiterated by BMO Capital Markets in a report issued on Friday. They presently have a $57.00 target price on the specialty chemicals company’s stock. BMO Capital Markets’ price target indicates a potential upside of 9.20% from the company’s previous close.

A number of other analysts also recently weighed in on the stock. Raymond James Financial, Inc. downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research report on Tuesday, October 31st. Royal Bank Of Canada lifted their price objective on shares of Methanex from $50.00 to $57.00 and gave the stock a “sector perform” rating in a report on Friday, October 27th. TD Securities lifted their price objective on shares of Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Scotiabank set a $53.50 price objective on shares of Methanex and gave the stock a “sector perform” rating in a report on Thursday, October 26th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Methanex in a report on Thursday, October 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. Methanex presently has an average rating of “Hold” and an average target price of $54.17.

Methanex (NASDAQ MEOH) traded down $0.05 during mid-day trading on Friday, hitting $52.20. 235,400 shares of the stock were exchanged, compared to its average volume of 793,507. Methanex has a twelve month low of $39.47 and a twelve month high of $53.50. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. The firm has a market capitalization of $4,381.46, a P/E ratio of 15.87, a P/E/G ratio of 0.97 and a beta of 1.80.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $614.19 million. During the same quarter last year, the company earned ($0.01) earnings per share. The business’s quarterly revenue was up 41.2% compared to the same quarter last year. research analysts forecast that Methanex will post 3.59 EPS for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Marshall Wace North America L.P. lifted its stake in Methanex by 76.1% in the second quarter. Marshall Wace North America L.P. now owns 101,307 shares of the specialty chemicals company’s stock valued at $4,458,000 after buying an additional 43,776 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Methanex by 43.4% in the second quarter. Intact Investment Management Inc. now owns 64,800 shares of the specialty chemicals company’s stock valued at $3,696,000 after buying an additional 19,600 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Methanex by 17.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 45,546 shares of the specialty chemicals company’s stock valued at $2,008,000 after buying an additional 6,822 shares during the last quarter. AHL Partners LLP bought a new stake in Methanex in the second quarter valued at $300,000. Finally, AGF Investments Inc. lifted its stake in Methanex by 103.7% in the second quarter. AGF Investments Inc. now owns 409,320 shares of the specialty chemicals company’s stock valued at $18,080,000 after buying an additional 208,413 shares during the last quarter. Institutional investors own 80.02% of the company’s stock.

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Methanex Company Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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