Methanex (NASDAQ:MEOH) Stock Rating Lowered by Scotiabank

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by equities research analysts at Scotiabank from a “sector outperform” rating to a “sector perform” rating in a research report issued on Monday,Briefing.com Automated Import reports. They presently have a $53.00 target price on the specialty chemicals company’s stock. Scotiabank’s price target suggests a potential upside of 25.44% from the company’s current price.

MEOH has been the subject of several other research reports. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Raymond James boosted their price target on Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Piper Sandler raised their target price on Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. CIBC restated an “outperform” rating on shares of Methanex in a research report on Monday, February 3rd. Finally, UBS Group increased their target price on Methanex from $53.00 to $66.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.63.

Methanex Trading Up 1.3 %

Shares of MEOH stock opened at $42.25 on Monday. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. Methanex has a 12-month low of $36.13 and a 12-month high of $56.43. The stock’s 50-day moving average price is $47.96 and its 200-day moving average price is $44.95. The stock has a market capitalization of $2.85 billion, a price-to-earnings ratio of 18.29 and a beta of 1.38.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings data on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Equities research analysts predict that Methanex will post 4.32 EPS for the current fiscal year.

Institutional Trading of Methanex

Large investors have recently bought and sold shares of the business. Pictet Asset Management Holding SA raised its position in Methanex by 2.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 11,463 shares of the specialty chemicals company’s stock worth $573,000 after buying an additional 293 shares during the last quarter. Blue Trust Inc. grew its position in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after purchasing an additional 371 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Methanex by 3.4% in the 4th quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company’s stock valued at $588,000 after buying an additional 383 shares in the last quarter. PCJ Investment Counsel Ltd. increased its position in Methanex by 3.6% during the fourth quarter. PCJ Investment Counsel Ltd. now owns 11,800 shares of the specialty chemicals company’s stock worth $589,000 after buying an additional 410 shares in the last quarter. Finally, Value Partners Investments Inc. lifted its position in shares of Methanex by 7.3% in the fourth quarter. Value Partners Investments Inc. now owns 6,053 shares of the specialty chemicals company’s stock valued at $302,000 after acquiring an additional 411 shares in the last quarter. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.