Methanex Corporation (NASDAQ:MEOH) Receives $46.27 Average Target Price from Analysts

Shares of Methanex Corporation (NASDAQ:MEOH) (TSE:MX) have been assigned a consensus recommendation of “Moderate Buy” from the thirteen brokerages that are covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $46.2727.

MEOH has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Methanex in a report on Wednesday, October 8th. UBS Group reduced their price target on Methanex from $51.00 to $48.00 and set a “buy” rating for the company in a report on Thursday, July 31st. JPMorgan Chase & Co. upgraded Methanex from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $33.00 to $38.00 in a research note on Friday, October 31st. National Bank Financial began coverage on Methanex in a report on Friday, September 26th. They set an “outperform” rating and a $47.00 price objective on the stock. Finally, National Bankshares set a $47.00 price objective on Methanex and gave the stock an “outperform” rating in a research report on Thursday, September 25th.

Methanex Stock Up 2.1%

Shares of Methanex stock opened at $38.61 on Monday. The company has a market cap of $2.99 billion, a P/E ratio of 13.09 and a beta of 1.01. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. Methanex has a one year low of $25.46 and a one year high of $54.49. The firm has a fifty day moving average of $37.55 and a two-hundred day moving average of $35.15.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.45). Methanex had a net margin of 5.97% and a return on equity of 9.30%. The firm had revenue of $924.87 million during the quarter, compared to analysts’ expectations of $977.82 million. During the same period in the previous year, the firm earned $1.21 EPS. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts forecast that Methanex will post 4.32 earnings per share for the current year.

Institutional Trading of Methanex

Several hedge funds and other institutional investors have recently made changes to their positions in MEOH. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Methanex during the second quarter worth about $33,000. CWM LLC acquired a new stake in shares of Methanex during the 2nd quarter valued at approximately $33,000. SVB Wealth LLC acquired a new stake in shares of Methanex during the 1st quarter valued at approximately $38,000. NewEdge Advisors LLC purchased a new stake in shares of Methanex during the 2nd quarter worth approximately $50,000. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Methanex by 1,244.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock worth $53,000 after acquiring an additional 1,232 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

About Methanex

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.