Methanex (NASDAQ:MEOH) Given a $50.00 Price Target by Royal Bank Of Canada Analysts

Methanex (NASDAQ:MEOH) (TSE:MX) has been given a $50.00 target price by Royal Bank Of Canada in a research note issued to investors on Monday,BayStreet.CA reports. The firm currently has an “outperform” rating on the specialty chemicals company’s stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 13.35% from the stock’s previous close.

A number of other analysts have also issued reports on MEOH. Scotiabank dropped their target price on Methanex from $50.00 to $48.00 and set a “sector outperform” rating on the stock in a research report on Monday, November 3rd. Weiss Ratings restated a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. Zacks Research upgraded Methanex from a “strong sell” rating to a “hold” rating in a research note on Friday, December 12th. Jefferies Financial Group raised their price target on shares of Methanex from $45.00 to $53.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, National Bank Financial started coverage on shares of Methanex in a report on Friday, September 26th. They issued an “outperform” rating and a $47.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $46.55.

Methanex Trading Up 2.7%

NASDAQ MEOH opened at $44.11 on Monday. The stock has a market cap of $3.41 billion, a P/E ratio of 14.95 and a beta of 0.73. The company’s fifty day simple moving average is $37.85 and its 200-day simple moving average is $36.42. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.97. Methanex has a 52 week low of $25.46 and a 52 week high of $54.49.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.45). Methanex had a return on equity of 9.07% and a net margin of 5.97%.The firm had revenue of $924.87 million for the quarter, compared to analysts’ expectations of $977.82 million. During the same period last year, the firm earned $1.21 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts predict that Methanex will post 4.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CWM LLC bought a new stake in shares of Methanex during the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Methanex in the second quarter worth about $33,000. Parkside Financial Bank & Trust boosted its stake in Methanex by 1,244.4% in the third quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after acquiring an additional 1,232 shares during the period. NewEdge Advisors LLC bought a new position in shares of Methanex during the second quarter valued at approximately $50,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Methanex by 131.5% during the third quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock valued at $99,000 after purchasing an additional 1,410 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).