Methanex Co. (MEOH) Receives Consensus Recommendation of “Buy” from Brokerages

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Shares of Methanex Co. (NASDAQ:MEOH) (TSE:MX) have earned a consensus rating of “Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $82.36.

Several research analysts recently weighed in on the company. ValuEngine raised Methanex from a “hold” rating to a “buy” rating in a research report on Saturday, October 6th. Barclays assumed coverage on Methanex in a research report on Monday, October 8th. They issued an “equal weight” rating and a $90.00 target price on the stock. Royal Bank of Canada increased their target price on Methanex from $78.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Monday, October 1st. BidaskClub raised Methanex from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 28th. Finally, Monness Crespi & Hardt increased their target price on Methanex from $75.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th.

A number of large investors have recently added to or reduced their stakes in MEOH. Dimensional Fund Advisors LP raised its position in Methanex by 0.4% in the first quarter. Dimensional Fund Advisors LP now owns 244,676 shares of the specialty chemicals company’s stock valued at $14,840,000 after purchasing an additional 980 shares during the period. UBS Group AG raised its position in Methanex by 116.7% in the first quarter. UBS Group AG now owns 67,517 shares of the specialty chemicals company’s stock valued at $4,095,000 after purchasing an additional 36,358 shares during the period. Barclays PLC raised its position in Methanex by 7,510.0% in the first quarter. Barclays PLC now owns 7,610 shares of the specialty chemicals company’s stock valued at $462,000 after purchasing an additional 7,510 shares during the period. Millennium Management LLC raised its position in Methanex by 521.2% in the first quarter. Millennium Management LLC now owns 134,345 shares of the specialty chemicals company’s stock valued at $8,148,000 after purchasing an additional 112,719 shares during the period. Finally, Suntrust Banks Inc. purchased a new position in Methanex in the first quarter valued at about $212,000. 76.07% of the stock is currently owned by institutional investors.

Shares of MEOH traded down $0.30 during trading hours on Tuesday, hitting $63.42. The stock had a trading volume of 16,082 shares, compared to its average volume of 549,002. The company has a current ratio of 1.70, a quick ratio of 1.27 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $5.17 billion, a P/E ratio of 13.44, a price-to-earnings-growth ratio of 0.60 and a beta of 1.55. Methanex has a 12-month low of $48.55 and a 12-month high of $83.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.07). The firm had revenue of $1.04 billion during the quarter. Methanex had a return on equity of 34.25% and a net margin of 12.48%. Sell-side analysts predict that Methanex will post 7.34 earnings per share for the current year.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

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