Methanex (NASDAQ:MEOH) Issues Earnings Results

Methanex (NASDAQ:MEOH) (TSE:MX) posted its quarterly earnings data on Thursday. The specialty chemicals company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $2.84 by $0.85, Zacks reports. Methanex had a return on equity of 11.35% and a net margin of 2.07%.

Methanex Stock Down 1.2%

Shares of MEOH stock traded down $0.79 during mid-day trading on Thursday, hitting $62.76. 579,589 shares of the stock traded hands, compared to its average volume of 991,559. Methanex has a 52-week low of $32.00 and a 52-week high of $66.75. The stock has a market cap of $4.86 billion, a P/E ratio of 60.93 and a beta of 0.71. The company has a debt-to-equity ratio of 0.83, a current ratio of 2.07 and a quick ratio of 1.35. The stock’s fifty day moving average is $60.79 and its two-hundred day moving average is $56.09.

Wall Street Analyst Weigh In

MEOH has been the topic of several recent research reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $77.00 price objective on shares of Methanex in a research note on Monday, October 19th. National Bank Financial increased their price objective on shares of Methanex from $70.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, October 16th. UBS Group increased their target price on Methanex from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Zacks Research upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 15th. Finally, Royal Bank Of Canada cut their price objective on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and an average price target of $71.33.

About Methanex

Methanex Corporation is a global producer and supplier of methanol, a clear, biodegradable liquid chemical used in a wide range of industrial and consumer applications. The company markets methanol to customers worldwide and supports distribution through a global network of production facilities, storage terminals and transportation infrastructure.

Methanol is used to manufacture formaldehyde, acetic acid, solvents, adhesives, plastics and other chemical products. It is also used in fuel applications, including as a blending component, a feedstock for biodiesel and in the production of olefins and other alternative fuels.

Founded in 1992 and headquartered in Vancouver, British Columbia, Methanex operates production facilities and related assets in several regions, including North America, South America and New Zealand.