Methanex (TSE:MX) Reaches New 12-Month High – Time to Buy?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price reached a new 52-week high on Monday . The company traded as high as C$92.97 and last traded at C$91.53, with a volume of 99103 shares changing hands. The stock had previously closed at C$90.57.

Wall Street Analysts Forecast Growth

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

Methanex Price Performance

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 firm has a market cap of C$6.41 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 0.44 and a beta of 1.06. The stock has a 50 day moving average price of C$70.45 and a two-hundred day moving average price of C$59.64.

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

Insider Transactions at Methanex

In other Methanex news, insider Mark Allard sold 2,000 shares of the firm’s stock in a transaction on Friday, March 27th. The shares were sold at an average price of C$86.00, for a total value of C$172,000.00. Following the completion of the transaction, the insider owned 16,604 shares of the company’s stock, valued at approximately C$1,427,944. This trade represents a 10.75% decrease in their ownership of the stock. Insiders own 0.35% of the company’s stock.

Methanex Company Profile

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.