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StockNews.com Downgrades Methanex (NASDAQ:MEOH) to Hold

Methanex (NASDAQ:MEOH - Get Rating) (TSE:MX) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Friday.

A number of other research firms have also weighed in on MEOH. Raymond James decreased their price target on Methanex from $58.00 to $50.00 and set a "market perform" rating for the company in a research report on Friday, July 29th. Piper Sandler decreased their price target on Methanex from $48.00 to $40.00 and set an "underweight" rating for the company in a research report on Friday, July 29th. Scotiabank upgraded Methanex from a "sector perform" rating to a "sector outperform" rating and set a $46.00 price target for the company in a research report on Monday. They noted that the move was a valuation call. Barclays decreased their price objective on Methanex from $60.00 to $52.00 in a research report on Tuesday, August 2nd. Finally, Jefferies Financial Group raised their price objective on Methanex from $67.00 to $73.00 in a research report on Thursday, June 16th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Methanex currently has an average rating of "Hold" and a consensus target price of $50.92.

Methanex Price Performance


NASDAQ:MEOH opened at $31.79 on Friday. The business's 50-day moving average price is $36.02 and its 200 day moving average price is $43.91. The firm has a market cap of $2.23 billion, a P/E ratio of 4.93 and a beta of 1.66. Methanex has a 52-week low of $28.73 and a 52-week high of $56.79. The company has a quick ratio of 1.77, a current ratio of 2.35 and a debt-to-equity ratio of 0.90.

Methanex (NASDAQ:MEOH - Get Rating) (TSE:MX) last released its quarterly earnings results on Wednesday, July 27th. The specialty chemicals company reported $1.16 earnings per share for the quarter, missing analysts' consensus estimates of $1.85 by ($0.69). Methanex had a net margin of 11.10% and a return on equity of 24.76%. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts predict that Methanex will post 4.64 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. bought a new position in shares of Methanex in the 1st quarter valued at approximately $27,000. Van ECK Associates Corp raised its stake in shares of Methanex by 64.7% in the 1st quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company's stock valued at $42,000 after acquiring an additional 306 shares in the last quarter. Lazard Asset Management LLC raised its stake in shares of Methanex by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company's stock valued at $60,000 after acquiring an additional 302 shares in the last quarter. C M Bidwell & Associates Ltd. raised its stake in shares of Methanex by 284.8% in the 1st quarter. C M Bidwell & Associates Ltd. now owns 3,425 shares of the specialty chemicals company's stock valued at $187,000 after acquiring an additional 2,535 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Methanex in the 2nd quarter valued at approximately $200,000. 72.41% of the stock is owned by institutional investors.

About Methanex

(Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Analyst Recommendations for Methanex (NASDAQ:MEOH)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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