Methanex (MEOH) Price Target Raised to $72.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target lifted by research analysts at Monness Crespi & Hardt from $65.00 to $72.00 in a note issued to investors on Friday, February 2nd, Marketbeat.com reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. Monness Crespi & Hardt’s target price suggests a potential upside of 34.15% from the company’s previous close.

MEOH has been the topic of a number of other reports. Scotiabank set a $53.50 target price on shares of Methanex and gave the stock a “sector perform” rating in a research report on Thursday, October 26th. Cowen reaffirmed an “outperform” rating and set a $65.00 target price (up from $58.00) on shares of Methanex in a research report on Thursday, December 14th. Raymond James Financial downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price objective on the stock. in a research note on Tuesday, October 31st. BidaskClub upgraded shares of Methanex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Finally, UBS Group increased their price objective 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 issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $59.00.

Shares of Methanex (NASDAQ MEOH) traded down $1.23 during trading hours on Friday, hitting $53.67. 437,378 shares of the stock were exchanged, compared to its average volume of 753,151. The stock has a market capitalization of $4,854.51, a price-to-earnings ratio of 15.16, a PEG ratio of 0.72 and a beta of 1.73. Methanex has a fifty-two week low of $39.47 and a fifty-two week high of $64.60. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.51. The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $796.57 million. Methanex had a net margin of 10.34% and a return on equity of 22.72%. The company’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period last year, the company posted $0.46 earnings per share. sell-side analysts expect that Methanex will post 5.33 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in Methanex by 3.8% in the second quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock valued at $91,090,000 after acquiring an additional 76,132 shares in the last quarter. Polaris Capital Management LLC raised its holdings in shares of Methanex by 30,312.3% in the fourth quarter. Polaris Capital Management LLC now owns 699,482 shares of the specialty chemicals company’s stock worth $46,152,000 after buying an additional 697,182 shares during the last quarter. TD Asset Management Inc. raised its holdings in shares of Methanex by 2.4% in the third quarter. TD Asset Management Inc. now owns 612,576 shares of the specialty chemicals company’s stock worth $30,711,000 after buying an additional 14,592 shares during the last quarter. Gotham Asset Management LLC purchased a new position in shares of Methanex in the second quarter worth $23,031,000. Finally, AGF Investments Inc. raised its holdings in shares of Methanex by 21.9% in the third quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock worth $25,082,000 after buying an additional 89,812 shares during the last quarter. Institutional investors own 84.74% of the company’s stock.

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Methanex Company Profile

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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