Methanex Corp. (NASDAQ:MEOH) has received an average rating of “Buy” from the eleven ratings firms that are presently covering the stock. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $38.79.
MEOH has been the subject of a number of research analyst reports. Scotiabank reiterated an “outperform” rating and issued a $35.00 target price on shares of Methanex Corp. in a report on Wednesday, August 31st. BMO Capital Markets lifted their target price on Methanex Corp. from $36.00 to $40.00 and gave the stock an “outperform” rating in a report on Thursday, September 29th. Raymond James Financial Inc. downgraded Methanex Corp. from a “strong-buy” rating to an “outperform” rating and lifted their target price for the stock from $37.00 to $40.00 in a report on Monday, October 3rd. Zacks Investment Research upgraded Methanex Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Finally, CIBC upgraded Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 target price for the company in a report on Tuesday, July 5th.
Large investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its stake in shares of Methanex Corp. by 6.5% in the third quarter. BNP Paribas Arbitrage SA now owns 9,765 shares of the company’s stock valued at $393,000 after buying an additional 600 shares during the period. Legal & General Group Plc increased its stake in shares of Methanex Corp. by 19.3% in the second quarter. Legal & General Group Plc now owns 79,903 shares of the company’s stock valued at $2,313,000 after buying an additional 12,936 shares during the period. Fiera Capital Corp increased its stake in shares of Methanex Corp. by 59.9% in the second quarter. Fiera Capital Corp now owns 1,617,442 shares of the company’s stock valued at $46,844,000 after buying an additional 605,680 shares during the period. AHL Partners LLP bought a new stake in shares of Methanex Corp. during the second quarter valued at about $1,148,000. Finally, Guggenheim Capital LLC increased its stake in shares of Methanex Corp. by 120.9% in the second quarter. Guggenheim Capital LLC now owns 23,417 shares of the company’s stock valued at $681,000 after buying an additional 12,814 shares during the period. Institutional investors and hedge funds own 87.01% of the company’s stock.
Shares of Methanex Corp. (NASDAQ:MEOH) opened at 36.94 on Tuesday. The firm has a market cap of $3.32 billion, a P/E ratio of 83.76 and a beta of 2.00. Methanex Corp. has a 12-month low of $22.73 and a 12-month high of $44.95. The stock has a 50 day moving average price of $32.35 and a 200 day moving average price of $31.12.
Methanex Corp. (NASDAQ:MEOH) last issued its earnings results on Thursday, July 28th. The company reported ($0.34) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.09. The business earned $468 million during the quarter, compared to the consensus estimate of $422.82 million. Methanex Corp. had a return on equity of 2.10% and a net margin of 3.22%. The company’s revenue for the quarter was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities analysts expect that Methanex Corp. will post ($0.76) earnings per share for the current year.
Methanex Corp. Company Profile
Methanex Corporation is a 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, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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