Scotiabank Boosts Methanex (TSE:MX) Price Target to C$60.00

Methanex (TSE:MX) (NASDAQ:MEOH) had its price target hoisted by stock analysts at Scotiabank from C$48.00 to C$60.00 in a report released on Wednesday,BayStreet.CA reports. Scotiabank’s target price would indicate a potential downside of 10.04% from the company’s previous close.

Several other brokerages have also issued reports on MX. National Bank Financial raised Methanex to a “strong-buy” rating in a research note on Thursday, September 25th. Raymond James Financial lowered Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Methanex currently has a consensus rating of “Buy” and a consensus target price of C$50.00.

Methanex Price Performance

MX traded up C$3.81 on Wednesday, reaching C$66.70. The company had a trading volume of 253,553 shares, compared to its average volume of 261,400. Methanex has a 52-week low of C$36.10 and a 52-week high of C$78.18. The company has a market cap of C$5.16 billion, a price-to-earnings ratio of 22.38, a P/E/G ratio of 0.44 and a beta of 1.25. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The business has a 50 day simple moving average of C$55.17 and a 200 day simple moving average of C$51.66.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its quarterly earnings data on Wednesday, October 29th. The company reported C($0.09) earnings per share for the quarter. Methanex had a net margin of 4.13% and a return on equity of 7.70%. The company had revenue of C$1.29 billion for the quarter. As a group, sell-side analysts anticipate that Methanex will post 5.9482927 EPS for the current 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.