Methanex (NASDAQ:MEOH) Given "Hold (C)" Rating at Weiss Ratings

Key Points

• Methanex (NASDAQ:MEOH) has been given a "hold (C)" rating by Weiss Ratings, while other analysts have differing opinions, with target prices ranging from $33 to $51.
• The company reported $0.97 EPS for the last quarter, exceeding expectations but showing a 13.4% revenue decline year over year.
• Institutional investors have significantly increased their stakes in Methanex, with some firms boosting their positions by over 200% in the second quarter.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX's stock had its "hold (c)" rating reaffirmed by stock analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Other equities research analysts have also recently issued reports about the company. UBS Group lowered their target price on Methanex from $51.00 to $48.00 and set a "buy" rating for the company in a report on Thursday, July 31st. National Bankshares set a $47.00 target price on Methanex and gave the company an "outperform" rating in a research report on Thursday, September 25th. Zacks Research upgraded Methanex from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, September 16th. JPMorgan Chase & Co. began coverage on shares of Methanex in a report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price objective on the stock. Finally, Scotiabank set a $50.00 target price on shares of Methanex and gave the company a "sector outperform" rating in a research report on Tuesday, August 5th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $46.00.

Methanex Stock Up 0.2%

MEOH stock opened at $39.25 on Wednesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. The business's 50 day moving average price is $36.67 and its two-hundred day moving average price is $34.13. Methanex has a fifty-two week low of $25.46 and a fifty-two week high of $54.49. The company has a market capitalization of $3.04 billion, a price-to-earnings ratio of 11.58 and a beta of 0.94.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.42 by $0.55. Methanex had a return on equity of 12.61% and a net margin of 7.02%.The company had revenue of $808.46 million for the quarter, compared to analysts' expectations of $835.04 million. During the same period last year, the firm posted $0.62 earnings per share. Methanex's revenue was down 13.4% compared to the same quarter last year. As a group, analysts forecast that Methanex will post 4.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Methanex

Large investors have recently modified their holdings of the stock. Squarepoint Ops LLC boosted its position in shares of Methanex by 206.7% in the 2nd quarter. Squarepoint Ops LLC now owns 41,257 shares of the specialty chemicals company's stock worth $1,366,000 after buying an additional 27,803 shares in the last quarter. State of Wyoming lifted its position in shares of Methanex by 192.7% during the second quarter. State of Wyoming now owns 6,898 shares of the specialty chemicals company's stock worth $228,000 after purchasing an additional 4,541 shares in the last quarter. Headlands Technologies LLC lifted its stake in shares of Methanex by 781.2% in the second quarter. Headlands Technologies LLC now owns 20,559 shares of the specialty chemicals company's stock worth $681,000 after acquiring an additional 18,226 shares in the last quarter. Oxford Asset Management LLP grew its holdings in Methanex by 56.0% during the 2nd quarter. Oxford Asset Management LLP now owns 17,002 shares of the specialty chemicals company's stock worth $563,000 after acquiring an additional 6,105 shares in the last quarter. Finally, Orion Resource Partners LP increased its holdings in shares of Methanex by 206.5% in the 2nd quarter. Orion Resource Partners LP now owns 28,334 shares of the specialty chemicals company's stock valued at $940,000 after acquiring an additional 19,091 shares during the last quarter. Hedge funds and other institutional investors 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.

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