Methanex (NASDAQ:MEOH) Earns Sector Perform Rating from Royal Bank of Canada

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX's stock had its "sector perform" rating restated by equities research analysts at Royal Bank of Canada in a note issued to investors on Wednesday, Benzinga reports. They presently have a $45.00 target price on the specialty chemicals company's stock. Royal Bank of Canada's target price would suggest a potential downside of 7.56% from the stock's current price.

A number of other equities research analysts have also commented on the company. Raymond James lowered their price target on Methanex from $67.00 to $62.00 and set an "outperform" rating for the company in a research report on Wednesday, February 21st. TheStreet raised Methanex from a "c" rating to a "b-" rating in a research report on Thursday, January 11th. CIBC increased their price target on Methanex from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Wednesday, January 10th. Barclays increased their price target on Methanex from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Finally, UBS Group raised Methanex from a "neutral" rating to a "buy" rating and increased their price target for the company from $51.00 to $60.00 in a research report on Thursday, February 8th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $53.50.

Methanex Trading Up 5.8 %

Shares of Methanex stock traded up $2.68 on Wednesday, reaching $48.68. 705,752 shares of the company's stock were exchanged, compared to its average volume of 291,462. The company has a market capitalization of $3.28 billion, a P/E ratio of 19.79 and a beta of 1.50. Methanex has a 52 week low of $38.18 and a 52 week high of $49.48. The firm's 50-day moving average is $44.57 and its two-hundred day moving average is $44.13. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 1.14.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last issued its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.28 by $0.24. Methanex had a return on equity of 6.71% and a net margin of 4.67%. The company had revenue of $922.00 million for the quarter, compared to analysts' expectations of $901.21 million. Sell-side analysts predict that Methanex will post 2.24 EPS for the current fiscal year.

Institutional Investors Weigh In On Methanex

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in Methanex by 1,158.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,271 shares of the specialty chemicals company's stock worth $53,000 after acquiring an additional 1,170 shares during the last quarter. Lazard Asset Management LLC increased its holdings in Methanex by 37.2% in the 1st quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company's stock worth $60,000 after acquiring an additional 302 shares during the last quarter. State of Wyoming purchased a new stake in Methanex in the 4th quarter worth about $92,000. Deutsche Bank AG purchased a new stake in Methanex in the 4th quarter worth about $101,000. Finally, Citigroup Inc. increased its holdings in Methanex by 43.3% in the 2nd quarter. Citigroup Inc. now owns 2,884 shares of the specialty chemicals company's stock worth $119,000 after acquiring an additional 871 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.