Methanex (TSE:MX) Cut to "Hold" at Royal Bank Of Canada

Key Points

• Royal Bank of Canada downgraded Methanex (TSE:MX) from "moderate buy" to "hold," and several other brokers have recently trimmed ratings, though the consensus remains "Moderate Buy" with an average price target of C$50 while the stock trades around C$83.13.
• Methanex reported C($0.19) EPS on C$1.28 billion in revenue for the quarter, with a 2.19% net margin and 3.18% ROE; the company has a market cap of C$6.43 billion and a high P/E of 89.39.
• Insider Mark Allard sold 2,000 shares at about C$86, reducing his stake by 10.75%; company insiders now own roughly 0.35% of the stock.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH was downgraded by investment analysts at Royal Bank Of Canada from a "moderate buy" rating to a "hold" rating in a research note issued to investors on Wednesday,Zacks.com reports.

MX has been the subject of several other research reports. Canadian Imperial Bank of Commerce downgraded shares of Methanex from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 6th. Raymond James Financial lowered shares of Methanex from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, January 14th. Finally, Scotiabank increased their target price on shares of Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of C$50.00.

Methanex Trading Up 1.4%

MX opened at C$83.13 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 143.59. Methanex has a 52 week low of C$36.10 and a 52 week high of C$92.97. The business's 50 day moving average is C$71.09 and its two-hundred day moving average is C$59.96. The firm has a market cap of C$6.43 billion, a price-to-earnings ratio of 89.39, a price-to-earnings-growth ratio of 0.44 and a beta of 1.06.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last posted its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. The firm had revenue of C$1.28 billion during the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. On average, research analysts predict that Methanex will post 5.9482927 EPS for the current year.

Insider Activity at Methanex

In related news, insider Mark Allard sold 2,000 shares of the stock in a transaction on Friday, March 27th. The stock was sold at an average price of C$86.00, for a total transaction of C$172,000.00. Following the completion of the sale, the insider directly owned 16,604 shares of the company's stock, valued at C$1,427,944. This trade represents a 10.75% decrease in their ownership of the stock. 0.35% of the stock is owned by company insiders.

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.

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