Methanex (NASDAQ:MEOH) Upgraded to “Hold” at Zacks Research

Methanex (NASDAQ:MEOH) (TSE:MX) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Several other research firms have also issued reports on MEOH. Raymond James Financial lowered shares of Methanex from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Royal Bank Of Canada set a $50.00 target price on Methanex and gave the stock an “outperform” rating in a research note on Monday, January 5th. UBS Group upped their target price on Methanex from $48.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, January 12th. CIBC reissued an “outperform” rating on shares of Methanex in a report on Monday, November 17th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $47.00.

Methanex Stock Performance

Shares of Methanex stock opened at $47.78 on Tuesday. The company has a market capitalization of $3.70 billion, a PE ratio of 16.20 and a beta of 0.73. The company has a 50-day simple moving average of $41.17 and a two-hundred day simple moving average of $37.84. Methanex has a one year low of $25.46 and a one year high of $54.49. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, October 29th. The specialty chemicals company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.45). The firm had revenue of $924.87 million during the quarter, compared to the consensus estimate of $977.82 million. Methanex had a net margin of 5.97% and a return on equity of 9.07%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.21 earnings per share. Research analysts expect that Methanex will post 4.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CWM LLC purchased a new stake in Methanex in the second quarter valued at $33,000. Parkside Financial Bank & Trust lifted its holdings in shares of Methanex by 1,244.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,331 shares of the specialty chemicals company’s stock valued at $53,000 after buying an additional 1,232 shares during the period. NewEdge Advisors LLC purchased a new stake in shares of Methanex in the second quarter worth about $50,000. PNC Financial Services Group Inc. boosted its stake in shares of Methanex by 131.5% in the third quarter. PNC Financial Services Group Inc. now owns 2,482 shares of the specialty chemicals company’s stock worth $99,000 after buying an additional 1,410 shares during the last quarter. Finally, AXA S.A. acquired a new stake in Methanex during the second quarter worth about $166,000. 73.49% of the stock is currently owned by institutional investors and hedge funds.

About Methanex

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).