Jefferies Financial Group Lowers Methanex (NASDAQ:MEOH) Price Target to $48.00

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Methanex (NASDAQ:MEOH) (TSE:MX) had its price target lowered by equities research analysts at Jefferies Financial Group from $61.00 to $48.00 in a research report issued to clients and investors on Monday, The Fly reports. The firm currently has a “hold” rating on the specialty chemicals company’s stock. Jefferies Financial Group’s price target points to a potential upside of 12.28% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. TD Securities reduced their target price on shares of Quebecor from C$38.00 to C$37.00 and set a “buy” rating for the company in a research report on Friday, July 12th. Zacks Investment Research lowered shares of Wix.Com from a “hold” rating to a “sell” rating in a report on Monday, April 8th. Barclays reissued an “overweight” rating and issued a GBX 310 ($4.05) price objective on shares of in a report on Monday, June 24th. Monness Crespi & Hardt reissued a “buy” rating and issued a $69.00 price objective (down previously from $77.00) on shares of Methanex in a report on Thursday, June 27th. Finally, BidaskClub lowered shares of Orthofix Medical from a “buy” rating to a “hold” rating in a report on Monday, May 20th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. Methanex currently has an average rating of “Hold” and a consensus price target of $67.63.

Shares of NASDAQ MEOH opened at $42.75 on Monday. The firm has a 50-day simple moving average of $44.20. The firm has a market capitalization of $3.27 billion, a PE ratio of 6.23, a price-to-earnings-growth ratio of 0.83 and a beta of 1.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.08 and a quick ratio of 0.77. Methanex has a 52 week low of $40.43 and a 52 week high of $83.23.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, April 24th. The specialty chemicals company reported $0.73 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.02. The business had revenue of $773.00 million during the quarter, compared to analysts’ expectations of $790.00 million. Methanex had a net margin of 11.84% and a return on equity of 24.89%. The company’s quarterly revenue was down 19.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.03 earnings per share. Equities research analysts expect that Methanex will post 3.43 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in MEOH. Beutel Goodman & Co Ltd. purchased a new position in Methanex during the first quarter worth about $87,000. Quadrant Capital Group LLC boosted its stake in Methanex by 35.6% during the first quarter. Quadrant Capital Group LLC now owns 2,266 shares of the specialty chemicals company’s stock worth $125,000 after buying an additional 595 shares during the period. Macquarie Group Ltd. purchased a new position in Methanex during the fourth quarter worth about $168,000. SG Americas Securities LLC purchased a new position in Methanex during the first quarter worth about $198,000. Finally, Brinker Capital Inc. purchased a new position in Methanex during the first quarter worth about $224,000. 70.53% of the stock is owned by institutional investors.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases 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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