Methanex (NASDAQ:MEOH) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

Equities research analysts at JPMorgan Chase & Co. assumed coverage on shares of Methanex (NASDAQ:MEOH) (TSE:MX) in a report issued on Tuesday,Benzinga reports. The brokerage set a “neutral” rating and a $33.00 price target on the specialty chemicals company’s stock. JPMorgan Chase & Co.‘s price target points to a potential downside of 0.93% from the company’s previous close.

A number of other brokerages have also recently issued reports on MEOH. Raymond James decreased their target price on Methanex from $62.00 to $40.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen downgraded Methanex from a “buy” rating to a “hold” rating in a report on Thursday, May 1st. Barclays lowered their target price on shares of Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 1st. Royal Bank of Canada reduced their price target on shares of Methanex from $55.00 to $50.00 and set a “sector perform” rating for the company in a research report on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of Methanex from $51.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Methanex presently has an average rating of “Moderate Buy” and an average target price of $46.56.

Methanex Stock Up 0.5%

Shares of NASDAQ:MEOH opened at $33.31 on Tuesday. The firm has a 50 day simple moving average of $31.13 and a 200-day simple moving average of $40.49. Methanex has a twelve month low of $25.46 and a twelve month high of $54.49. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2.24 billion, a PE ratio of 14.42 and a beta of 0.93.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.25 by $0.05. Methanex had a net margin of 4.41% and a return on equity of 10.97%. The firm had revenue of $857.90 million for the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business earned $0.65 EPS. Methanex’s revenue for the quarter was down 2.2% compared to the same quarter last year. On average, equities analysts predict that Methanex will post 4.32 EPS for the current fiscal year.

Institutional Trading of Methanex

Several hedge funds have recently made changes to their positions in MEOH. SVB Wealth LLC purchased a new position in Methanex during the first quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Methanex during the 1st quarter worth $55,000. Headlands Technologies LLC purchased a new position in shares of Methanex in the 1st quarter valued at about $82,000. Parkside Financial Bank & Trust increased its holdings in shares of Methanex by 39.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,015 shares of the specialty chemicals company’s stock valued at $101,000 after purchasing an additional 573 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Methanex in the fourth quarter valued at about $106,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.