Methanex (TSE:MX) Rating Increased to Strong-Buy at National Bank Financial

Key Points

• Methanex was upgraded by National Bank Financial to a strong-buy rating, though Royal Bank of Canada recently cut its view to hold.
• Analyst sentiment remains mixed overall: one analyst now rates the stock Strong Buy, three rate it Hold, and the consensus price target is C$60.00.
• The stock traded at C$72.18 Monday, above the consensus target, while the company reported quarterly EPS of C$0.42 on revenue of C$1.35 billion.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH was upgraded by research analysts at National Bank Financial to a "strong-buy" rating in a report issued on Monday,Zacks.com reports.

Separately, Royal Bank Of Canada downgraded shares of Methanex from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of C$60.00.

Methanex Price Performance

Shares of MX opened at C$72.18 on Monday. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44. The stock's 50 day moving average is C$78.27 and its two-hundred day moving average is C$73.55. Methanex has a twelve month low of C$44.57 and a twelve month high of C$92.97. The firm has a market capitalization of C$5.58 billion, a PE ratio of -98.88, a P/E/G ratio of 0.44 and a beta of 0.63.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share (EPS) for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.The business had revenue of C$1.35 billion during the quarter. Research analysts anticipate that Methanex will post 5.9482927 earnings per share for the current year.

Insider Buying and Selling at Methanex

In other news, insider Sunil Jagwani bought 745 shares of the stock in a transaction on Friday, May 29th. The shares were bought at an average price of C$82.36 per share, with a total value of C$61,358.20. Following the completion of the acquisition, the insider owned 2,600,200 shares of the company's stock, valued at approximately C$214,152,472. This trade represents a 0.03% increase in their ownership of the stock. Also, insider Kyung Wan (Fred) Lee sold 7,975 shares of the firm's stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of C$88.02, for a total value of C$701,959.50. Following the completion of the transaction, the insider owned 5,025 shares of the company's stock, valued at approximately C$442,300.50. This represents a 61.35% decrease in their position. Over the last 90 days, insiders have bought 278,000 shares of company stock valued at $23,636,345 and have sold 13,475 shares valued at $1,175,470. 0.35% of the stock is owned by corporate insiders.

About Methanex

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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