Methanex (TSE:MX) Reaches New 52-Week High - Time to Buy?

Key Points

• Methanex reached a new 52-week high of C$79.81 (last C$79.76) on heavy volume, yet the analyst consensus price target is C$50 and several firms recently downgraded the stock to Hold.
• Recent results showed a C($0.19) EPS loss on C$1.28 billion in revenue with a thin net margin (2.19%) and low ROE (3.18%), even as analysts forecast roughly 5.95 EPS for the current fiscal year.
• The company has a market cap of C$6.17 billion with a P/E of 26.76 and PEG of 0.44, solid liquidity ratios (quick 1.59, current 2.06) but a very high debt-to-equity of 143.59; analyst ratings are mixed (1 Strong Buy, 1 Buy, 2 Hold) giving an average "Moderate Buy."

Methanex Co. (TSE:MX - Get Free Report) NASDAQ: MEOH hit a new 52-week high on Thursday . The stock traded as high as C$79.81 and last traded at C$79.76, with a volume of 356597 shares. The stock had previously closed at C$72.60.

Analysts Set New Price Targets

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

Methanex Price Performance

The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 143.59. The stock's 50 day moving average price is C$66.00 and its two-hundred day moving average price is C$56.93. The stock has a market cap of C$6.17 billion, a price-to-earnings ratio of 26.76, 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 results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. The business 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%. Equities research analysts forecast that Methanex Co. will post 5.9482927 EPS for the current fiscal year.

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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