Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other analysts also recently issued reports on MEOH. TD Securities lifted their price target on shares of Methanex to $71.00 and gave the company a “buy” rating in a research report on Monday, September 18th. Zacks Investment Research raised shares of Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 26th. Royal Bank of Canada reissued a “hold” rating on shares of Methanex in a research report on Wednesday, September 27th. Scotiabank reissued a “sector perform” rating and issued a $67.00 price target on shares of Methanex in a research report on Wednesday, October 4th. Finally, Cowen reissued an “outperform” rating and issued a $58.00 price target (up previously from $55.00) on shares of Methanex in a research report on Monday, October 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have given a buy rating to the company. Methanex has an average rating of “Hold” and an average target price of $57.20.

Shares of Methanex (NASDAQ:MEOH) traded up $0.45 during mid-day trading on Monday, hitting $61.25. 706,242 shares of the stock traded hands, compared to its average volume of 638,844. The firm has a market cap of $5,141.08, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 0.83 and a beta of 1.82. Methanex has a one year low of $39.47 and a one year high of $64.40. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly 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. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The business had revenue of $720.00 million during the quarter, compared to the consensus estimate of $614.19 million. During the same quarter last year, the firm posted ($0.01) EPS. Methanex’s revenue was up 41.2% compared to the same quarter last year. equities analysts expect that Methanex will post 3.89 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. ETRADE Capital Management LLC purchased a new position in Methanex during the 3rd quarter worth $241,000. AHL Partners LLP purchased a new position in Methanex during the 2nd quarter worth $300,000. PNC Financial Services Group Inc. raised its stake in shares of Methanex by 3.9% during the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares during the period. Quantitative Investment Management LLC bought a new stake in shares of Methanex during the 2nd quarter worth $321,000. Finally, Guardian Capital Advisors LP raised its stake in shares of Methanex by 43.0% during the 3rd quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock worth $475,000 after purchasing an additional 2,240 shares during the period. 83.12% of the stock is currently owned by hedge funds and other institutional investors.

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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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