Methanex (TSE:MX) Cut to Hold at Cibc Captl Mkts

Cibc Captl Mkts cut shares of Methanex (TSE:MX) (NASDAQ:MEOH) from a strong-buy rating to a hold rating in a report published on Friday morning,Zacks.com reports.

Several other analysts have also recently commented on MX. Scotiabank upped their target price on Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. Raymond James Financial downgraded shares of Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.00.

Methanex Trading Up 0.1%

MX opened at C$64.50 on Friday. The firm’s fifty day simple moving average is C$59.29 and its 200 day simple moving average is C$53.45. Methanex has a 12 month low of C$36.10 and a 12 month high of C$73.72. The stock has a market capitalization of C$4.99 billion, a P/E ratio of 21.64, a P/E/G ratio of 0.44 and a beta of 1.11. The company has a current ratio of 1.34, a quick ratio of 1.59 and a debt-to-equity ratio of 148.53.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its earnings results on Wednesday, October 29th. The company reported C($0.09) EPS for the quarter. The business had revenue of C$1.29 billion for the quarter. Methanex had a return on equity of 7.70% and a net margin of 4.13%. As a group, research analysts anticipate that Methanex will post 5.9482927 EPS for the current fiscal 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.