This post was originally published on this site

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Wednesday, ValuEngine reports.

A number of other equities research analysts have also recently weighed in on the company. Royal Bank of Canada cut Methanex from an “outperform” rating to a “sector perform” rating and raised their price target for the company from $48.00 to $50.00 in a report on Monday. TheStreet cut Methanex from a “c” rating to a “d+” rating in a report on Thursday, October 1st. Smith Barney Citigroup raised Methanex from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $55.00 in a report on Wednesday. Raymond James raised their price target on Methanex from $45.00 to $55.00 and gave the company an “outperform” rating in a report on Monday. Finally, Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised Methanex from a “neutral” rating to a “buy” rating and raised their price target for the company from $33.00 to $55.00 in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.33.

Methanex stock opened at $48.00 on Wednesday. The company has a debt-to-equity ratio of 1.55, a current ratio of 1.91 and a quick ratio of 1.61. The company has a market capitalization of $3.66 billion, a PE ratio of -28.74 and a beta of 2.22. Methanex has a one year low of $9.00 and a one year high of $49.27. The business has a 50 day simple moving average of $43.54 and a 200 day simple moving average of $28.67.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, October 28th. The specialty chemicals company reported ($1.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by ($0.09). Methanex had a negative return on equity of 7.82% and a negative net margin of 4.84%. The company had revenue of $581.00 million for the quarter, compared to the consensus estimate of $442.00 million. Equities analysts anticipate that Methanex will post -1.91 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. lifted its holdings in Methanex by 37.7% during the second quarter. PNC Financial Services Group Inc. now owns 2,871 shares of the specialty chemicals company’s stock worth $53,000 after acquiring an additional 786 shares in the last quarter. SG Americas Securities LLC bought a new position in Methanex during the third quarter worth about $109,000. NEXT Financial Group Inc bought a new position in Methanex during the third quarter worth about $120,000. Astoria Strategic Wealth Inc. bought a new position in Methanex during the third quarter worth about $255,000. Finally, Acorn Wealth Advisors LLC bought a new position in Methanex during the third quarter worth about $232,000. Hedge funds and other institutional investors own 52.13% of the company’s stock.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, the company owns and leases storage and terminal facilities. It owns and manages a fleet of approximately 30 ocean-going vessels.

Recommended Story: Day Trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

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.