Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by equities research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Monday.

MEOH has been the subject of a number of other research reports. Scotiabank set a $53.50 price target on shares of Methanex and gave the company a “sector perform” rating in a research note on Thursday, October 26th. TD Securities increased their price target on shares of Methanex to $71.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Cowen reiterated an “outperform” rating and issued a $58.00 price target (up previously from $55.00) on shares of Methanex in a research note on Monday, October 9th. Raymond James Financial cut shares of Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price target for the company. in a research note on Tuesday, October 31st. Finally, UBS Group increased their price target on shares of Methanex from $42.00 to $44.00 and gave the company a “sell” rating in a research note on Friday, October 13th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $57.20.

Shares of Methanex (NASDAQ MEOH) opened at $61.25 on Monday. The company has a market cap of $5,141.08, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. Methanex has a 12 month low of $39.47 and a 12 month high of $64.40.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The firm had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $614.19 million. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) earnings per share. equities research analysts expect that Methanex will post 3.89 EPS for the current year.

Several institutional investors and hedge funds have recently modified their holdings of the company. ETRADE Capital Management LLC bought a new position in Methanex during the third quarter worth about $241,000. AHL Partners LLP bought a new position in Methanex during the second quarter worth about $300,000. PNC Financial Services Group Inc. increased its position in Methanex by 3.9% during the second quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after acquiring an additional 259 shares during the period. Quantitative Investment Management LLC bought a new position in Methanex during the second quarter worth about $321,000. Finally, Trexquant Investment LP bought a new position in Methanex during the third quarter worth about $388,000. 83.07% of the stock is currently owned by institutional investors.

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About Methanex

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.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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