Methanex’s (MEOH) Buy Rating Reaffirmed at Alembic Global Advisors
Methanex (NASDAQ:MEOH) (TSE:MX)‘s stock had its “buy” rating reiterated by investment analysts at Alembic Global Advisors in a research note issued to investors on Monday.
MEOH has been the topic of several other research reports. Scotiabank set a $53.50 target price on Methanex and gave the stock a “sector perform” rating in a report on Thursday, October 26th. TD Securities increased their target price on Methanex to $71.00 and gave the stock a “buy” rating in a report on Monday, September 18th. Cowen restated an “outperform” rating and set a $58.00 target price (up previously from $55.00) on shares of Methanex in a report on Monday, October 9th. Raymond James Financial cut Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a report on Tuesday, October 31st. Finally, BidaskClub upgraded Methanex from a “buy” rating to a “strong-buy” rating in a report on Friday, December 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $56.93.
Methanex (NASDAQ:MEOH) opened at $61.30 on Monday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59. Methanex has a 12 month low of $39.47 and a 12 month high of $64.40. The stock has a market capitalization of $5,130.00, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 0.92 and a beta of 1.81.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The firm had revenue of $720.00 million during the quarter, compared to analyst estimates of $614.19 million. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The business’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) earnings per share. equities analysts anticipate that Methanex will post 3.85 EPS for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Guardian Capital Advisors LP boosted its holdings in Methanex by 43.0% during the third quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock worth $475,000 after buying an additional 2,240 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Methanex during the third quarter worth about $704,000. Jane Street Group LLC boosted its holdings in Methanex by 99.8% during the third quarter. Jane Street Group LLC now owns 23,504 shares of the specialty chemicals company’s stock worth $1,183,000 after buying an additional 11,740 shares during the last quarter. Magnetar Financial LLC bought a new position in Methanex during the third quarter worth about $801,000. Finally, AMP Capital Investors Ltd boosted its holdings in Methanex by 55.3% during the third quarter. AMP Capital Investors Ltd now owns 160,649 shares of the specialty chemicals company’s stock worth $8,055,000 after buying an additional 57,177 shares during the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.
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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.
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