Methanex (TSE:MX) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$54.28 and traded as high as C$66.70. Methanex shares last traded at C$66.46, with a volume of 92,210 shares traded.

Analyst Ratings Changes

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

Methanex Price Performance

The firm has a fifty day moving average price of C$60.97 and a two-hundred day moving average price of C$54.28. The stock has a market capitalization of C$5.14 billion, a P/E ratio of 22.30, a PEG ratio of 0.44 and a beta of 1.11. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data on Wednesday, October 29th. The company reported C($0.09) EPS for the quarter. Methanex had a return on equity of 7.70% and a net margin of 4.13%.The firm had revenue of C$1.29 billion during the quarter. As a group, analysts expect that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

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.