Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by research analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other equities analysts also recently weighed in on MEOH. Zacks Investment Research reissued a “sell” rating on shares of Methanex in a research report on Monday, December 31st. ValuEngine raised Methanex from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Raymond James lowered their price target on Methanex from $90.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 28th. Alembic Global Advisors downgraded Methanex from an “overweight” rating to a “neutral” rating in a research report on Monday, December 31st. Finally, Tudor Pickering downgraded Methanex from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. 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 stock. Methanex has a consensus rating of “Hold” and an average price target of $78.43.

MEOH opened at $56.17 on Wednesday. Methanex has a 52-week low of $45.48 and a 52-week high of $83.23. The stock has a market cap of $4.40 billion, a P/E ratio of 8.19, a P/E/G ratio of 0.72 and a beta of 1.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.83 and a current ratio of 1.20.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 30th. The specialty chemicals company reported $1.15 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.60). The business had revenue of $977.00 million for the quarter, compared to analyst estimates of $986.13 million. Methanex had a return on equity of 31.00% and a net margin of 14.48%. Methanex’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the firm earned $1.70 EPS. Equities research analysts predict that Methanex will post 5.24 EPS for the current year.

Several institutional investors have recently bought and sold shares of MEOH. Norges Bank acquired a new position in shares of Methanex in the fourth quarter valued at approximately $49,470,000. Millennium Management LLC grew its position in shares of Methanex by 298.6% in the fourth quarter. Millennium Management LLC now owns 635,587 shares of the specialty chemicals company’s stock valued at $30,616,000 after purchasing an additional 476,114 shares during the last quarter. Scheer Rowlett & Associates Investment Management Ltd. grew its position in shares of Methanex by 228.8% in the fourth quarter. Scheer Rowlett & Associates Investment Management Ltd. now owns 411,775 shares of the specialty chemicals company’s stock valued at $19,796,000 after purchasing an additional 286,524 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Methanex by 9.0% in the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock valued at $192,573,000 after purchasing an additional 200,663 shares during the last quarter. Finally, Addenda Capital Inc. grew its position in shares of Methanex by 227.9% in the fourth quarter. Addenda Capital Inc. now owns 286,436 shares of the specialty chemicals company’s stock valued at $13,770,000 after purchasing an additional 199,070 shares during the last quarter. 72.01% of the stock is currently owned by institutional investors.

About Methanex

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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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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