Methanex (NASDAQ:MEOH) (TSE:MX)‘s stock had its “hold” rating reiterated by stock analysts at Scotiabank in a research note issued to investors on Wednesday. They currently have a $63.00 target price on the specialty chemicals company’s stock. Scotiabank’s price objective points to a potential downside of 1.64% from the company’s previous close.

A number of other analysts have also recently weighed in on the company. TD Securities raised their price objective on Methanex from $58.00 to $59.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Jefferies Group reissued a “buy” rating and issued a $60.00 price objective on shares of Methanex in a research report on Thursday, October 19th. ValuEngine cut Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th. BMO Capital Markets reissued a “buy” rating and issued a $57.00 price objective on shares of Methanex in a research report on Friday, November 24th. Finally, Zacks Investment Research raised Methanex from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.93.

Shares of Methanex (MEOH) traded up $1.30 during midday trading on Wednesday, reaching $64.05. The company’s stock had a trading volume of 629,100 shares, compared to its average volume of 602,450. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. The company has a market cap of $5,266.98, a PE ratio of 21.28, a PEG ratio of 1.05 and a beta of 1.82. Methanex has a 1-year low of $39.47 and a 1-year high of $64.25.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $720.00 million for the quarter, compared to analysts’ expectations of $614.19 million. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The business’s revenue for the quarter was up 41.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. analysts forecast that Methanex will post 3.8 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Boston Partners boosted its stake in shares of Methanex by 2.2% during the second quarter. Boston Partners now owns 6,397,800 shares of the specialty chemicals company’s stock worth $186,176,000 after buying an additional 135,578 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Methanex by 5.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,008,791 shares of the specialty chemicals company’s stock worth $143,033,000 after purchasing an additional 190,775 shares in the last quarter. FMR LLC increased its stake in shares of Methanex by 30.2% during the 1st quarter. FMR LLC now owns 3,341,500 shares of the specialty chemicals company’s stock worth $156,568,000 after purchasing an additional 774,598 shares in the last quarter. Fiera Capital Corp increased its stake in shares of Methanex by 7.3% during the 4th quarter. Fiera Capital Corp now owns 2,182,575 shares of the specialty chemicals company’s stock worth $95,563,000 after purchasing an additional 148,461 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Methanex by 3.8% during the 2nd quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock worth $91,090,000 after purchasing an additional 76,132 shares in the last quarter. Hedge funds and other institutional investors own 83.07% of the company’s stock.

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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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