Methanex (TSE:MX) Downgraded to Market Perform Rating by Raymond James Financial

Methanex (TSE:MX) (NASDAQ:MEOH) was downgraded by equities researchers at Raymond James Financial from an “outperform” rating to a “market perform” rating in a research note issued on Wednesday,BayStreet.CA reports.

Separately, National Bank Financial raised shares of Methanex to a “strong-buy” rating in a report on Thursday, September 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of C$46.50.

Methanex Stock Down 0.1%

Shares of TSE MX traded down C$0.08 during mid-day trading on Wednesday, hitting C$65.45. The company had a trading volume of 265,933 shares, compared to its average volume of 292,500. The company has a market capitalization of C$5.06 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 0.44 and a beta of 1.25. The business’s 50-day simple moving average is C$53.96 and its 200 day simple moving average is C$51.03. Methanex has a 1-year low of C$36.10 and a 1-year high of C$78.18. The company has a debt-to-equity ratio of 148.53, a current ratio of 1.34 and a quick ratio of 1.59.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings results on Wednesday, October 29th. The company reported C($0.09) earnings per share for the quarter. The company 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%. On average, analysts predict 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.