National Bank Financial Upgrades Methanex (NASDAQ:MEOH) to "Strong-Buy"

Key Points

• National Bank Financial has upgraded Methanex (NASDAQ:MEOH) to a "strong-buy" rating, signaling positive sentiment among analysts.
• Analysts have set various price objectives for Methanex, with estimations ranging from $33.00 to $50.00, indicating a generally optimistic outlook for the stock.
• Methanex recently reported earnings of $0.97 per share, significantly surpassing analyst estimates, although its revenue decreased by 13.4% compared to the previous year.

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

Several other research analysts also recently issued reports on MEOH. Raymond James Financial set a $45.00 price objective on Methanex and gave the stock an "outperform" rating in a report on Tuesday, July 15th. CIBC upped their price objective on Methanex from $42.00 to $44.00 and gave the stock an "outperformer" rating in a report on Friday, August 1st. National Bankshares set a $47.00 price objective on Methanex and gave the stock an "outperform" rating in a report on Thursday. JPMorgan Chase & Co. started coverage on Methanex in a report on Tuesday, June 10th. They set a "neutral" rating and a $33.00 price objective on the stock. Finally, Royal Bank Of Canada raised Methanex from a "sector perform" rating to an "outperform" rating and set a $50.00 price objective on the stock in a report on Friday, August 1st. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $46.00.

Methanex Trading Up 3.9%

MEOH stock opened at $39.76 on Thursday. Methanex has a 1-year low of $25.46 and a 1-year high of $54.49. The firm has a market cap of $3.08 billion, a P/E ratio of 11.73 and a beta of 0.87. The business's 50 day moving average is $35.79 and its 200-day moving average is $34.02. The company has a current ratio of 2.13, a quick ratio of 1.43 and a debt-to-equity ratio of 1.00.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings data on Wednesday, July 30th. The specialty chemicals company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.55. Methanex had a return on equity of 12.61% and a net margin of 7.02%.The company had revenue of $808.46 million for the quarter, compared to analyst estimates of $835.04 million. During the same period in the prior year, the company posted $0.62 EPS. The company's revenue was down 13.4% compared to the same quarter last year. Equities analysts anticipate that Methanex will post 4.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Methanex

Large investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. boosted its stake in shares of Methanex by 3.4% during the 4th quarter. Ameriprise Financial Inc. now owns 11,778 shares of the specialty chemicals company's stock worth $588,000 after buying an additional 383 shares during the last quarter. Two Sigma Investments LP acquired a new position in shares of Methanex during the 4th quarter worth about $2,521,000. Two Sigma Advisers LP acquired a new position in shares of Methanex during the 4th quarter worth about $934,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Methanex by 1.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 71,134 shares of the specialty chemicals company's stock worth $3,552,000 after buying an additional 965 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of Methanex by 98.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 52,370 shares of the specialty chemicals company's stock worth $2,616,000 after buying an additional 25,973 shares during the last quarter. 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.

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