Methanex (TSE:MX) Lowered to “Hold” Rating by Cibc Captl Mkts

Cibc Captl Mkts cut shares of Methanex (TSE:MX) (NASDAQ:MEOH) from a strong-buy rating to a hold rating in a report issued on Friday morning,Zacks.com reports.

MX has been the topic of several other research reports. Raymond James Financial lowered Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Scotiabank increased their price target on shares of Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. One investment 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 company’s stock. According to MarketBeat.com, Methanex presently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.00.

Methanex Price Performance

Shares of MX opened at C$64.50 on Friday. The company has a market cap of C$4.99 billion, a P/E ratio of 21.64, a PEG ratio of 0.44 and a beta of 1.11. The firm’s 50 day moving average price is C$59.29 and its 200 day moving average price is C$53.36. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$73.72. The company has a quick ratio of 1.59, a current ratio of 1.34 and a debt-to-equity ratio of 148.53.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings data on Wednesday, October 29th. The company reported C($0.09) earnings per share (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 for the quarter. On average, research analysts forecast that Methanex will post 5.9482927 earnings per share 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.