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

Methanex (NASDAQ:MEOH) (TSE:MX)‘s stock had its “sector perform” rating reiterated by Royal Bank of Canada in a report released on Tuesday,Benzinga reports. They currently have a $55.00 price objective on the specialty chemicals company’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 58.00% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. UBS Group lifted their price target on shares of Methanex from $53.00 to $66.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Barclays cut their target price on Methanex from $57.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Raymond James increased their price objective on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. Finally, CIBC reaffirmed an “outperform” rating on shares of Methanex in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.63.

Methanex Stock Down 0.8 %

Shares of MEOH traded down $0.28 during midday trading on Tuesday, reaching $34.81. 106,211 shares of the company were exchanged, compared to its average volume of 341,710. The stock has a 50-day moving average price of $43.96 and a 200-day moving average price of $44.21. The company has a current ratio of 2.62, a quick ratio of 2.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 15.07 and a beta of 1.38. Methanex has a 1-year low of $34.34 and a 1-year high of $56.43.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, January 29th. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Research analysts expect that Methanex will post 4.32 earnings per share for the current year.

Institutional Trading of Methanex

Several hedge funds have recently added to or reduced their stakes in the business. US Bancorp DE increased its stake in shares of Methanex by 35.7% in the fourth quarter. US Bancorp DE now owns 18,840 shares of the specialty chemicals company’s stock worth $941,000 after acquiring an additional 4,952 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Methanex by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock worth $4,340,000 after buying an additional 1,203 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Methanex by 17.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 8,316 shares of the specialty chemicals company’s stock valued at $415,000 after buying an additional 1,245 shares during the last quarter. Barclays PLC boosted its holdings in Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock valued at $845,000 after acquiring an additional 8,047 shares during the period. Finally, Blue Trust Inc. grew its position in shares of Methanex by 15.0% in the fourth quarter. Blue Trust Inc. now owns 2,845 shares of the specialty chemicals company’s stock valued at $142,000 after purchasing an additional 371 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

About Methanex

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.