Methanex (NASDAQ:MEOH) Price Target Cut to $58.00

Methanex (NASDAQ:MEOH) (TSE:MX) had its price target cut by analysts at TD Securities from $59.00 to $58.00 in a research note issued to investors on Thursday, Analyst Ratings Network reports. The brokerage presently has a “buy” rating on the specialty chemicals company’s stock. TD Securities’ price target suggests a potential upside of 27.11% from the stock’s current price.

MEOH has been the topic of several other reports. Tudor Pickering reissued a “hold” rating and issued a $44.00 target price on shares of Methanex in a report on Thursday, December 16th. Raymond James downgraded Methanex from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $62.00 to $52.00 in a report on Wednesday, December 29th. Zacks Investment Research downgraded Methanex from a “strong-buy” rating to a “hold” rating and set a $42.00 target price on the stock. in a report on Friday, December 31st. Tudor Pickering & Holt set a $44.00 target price on Methanex and gave the stock a “hold” rating in a report on Wednesday, December 22nd. Finally, Scotiabank boosted their target price on Methanex from $50.00 to $56.00 and gave the stock an “outperform” rating in a report on Tuesday, October 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Methanex has a consensus rating of “Hold” and a consensus price target of $50.25.

NASDAQ MEOH opened at $45.63 on Thursday. The company has a quick ratio of 1.73, a current ratio of 2.17 and a debt-to-equity ratio of 1.15. Methanex has a twelve month low of $29.61 and a twelve month high of $52.88. The firm has a market capitalization of $3.44 billion, a PE ratio of 14.81 and a beta of 2.00. The stock’s 50 day moving average is $42.28 and its 200 day moving average is $39.66.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Tuesday, October 26th. The specialty chemicals company reported $1.29 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.32 by ($0.03). Methanex had a net margin of 6.44% and a return on equity of 17.43%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $984.45 million. During the same quarter in the prior year, the firm earned ($1.03) earnings per share. The company’s revenue for the quarter was up 85.5% compared to the same quarter last year. On average, research analysts anticipate that Methanex will post 5.79 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Signaturefd LLC increased its position in Methanex by 11.4% during the third quarter. Signaturefd LLC now owns 3,094 shares of the specialty chemicals company’s stock valued at $142,000 after acquiring an additional 317 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Methanex by 6.1% during the second quarter. Great West Life Assurance Co. Can now owns 7,146 shares of the specialty chemicals company’s stock valued at $237,000 after acquiring an additional 409 shares during the last quarter. US Bancorp DE increased its position in Methanex by 10.3% during the third quarter. US Bancorp DE now owns 5,047 shares of the specialty chemicals company’s stock valued at $233,000 after acquiring an additional 472 shares during the last quarter. BlackRock Inc. increased its position in Methanex by 0.4% during the third quarter. BlackRock Inc. now owns 157,163 shares of the specialty chemicals company’s stock valued at $7,236,000 after acquiring an additional 552 shares during the last quarter. Finally, Koshinski Asset Management Inc. purchased a new stake in Methanex during the fourth quarter valued at $34,000. Institutional investors own 68.42% of the company’s stock.

About Methanex

Methanex Corp. engages in the production and supply of methanol. The firm supplies in the international market such as North America, Asia Pacific, Europe, and South America. It also operates the methanol ocean tanker fleet. The company was founded on March 11, 1968 and is headquartered in Vancouver, Canada.

See Also: Why Dividend Stocks May Be Right for You

Analyst Recommendations for Methanex (NASDAQ:MEOH)

Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.