Scotiabank Increases Methanex (TSE:MX) Price Target to C$60.00

Methanex (TSE:MX) (NASDAQ:MEOH) had its target price upped by analysts at Scotiabank from C$48.00 to C$60.00 in a report released on Wednesday,BayStreet.CA reports. Scotiabank’s target price would suggest a potential downside of 9.28% from the company’s current price.

Several other equities analysts have also commented on the company. Raymond James Financial lowered Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 14th. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a research report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Methanex presently has an average rating of “Buy” and a consensus target price of C$50.00.

Methanex Stock Performance

Methanex stock opened at C$66.14 on Wednesday. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The company has a market capitalization of C$5.12 billion, a PE ratio of 22.19, a P/E/G ratio of 0.44 and a beta of 1.25. The company has a 50 day moving average price of C$55.70 and a 200-day moving average price of C$51.87. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C($0.09) earnings per share (EPS) for the quarter. The firm had revenue of C$1.29 billion during the quarter. Methanex had a return on equity of 7.70% and a net margin of 4.13%. As a group, equities analysts forecast that Methanex will post 5.9482927 earnings per share for the current year.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.