Methanex (NASDAQ:MEOH) (TSE:MX)‘s stock had its “outperform” rating reiterated by equities researchers at Cowen in a research report issued to clients and investors on Thursday. They currently have a $65.00 target price on the specialty chemicals company’s stock, up from their previous target price of $58.00. Cowen’s price objective suggests a potential upside of 13.54% from the company’s current price.

Several other brokerages have also commented on MEOH. BidaskClub lowered shares of Methanex from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Royal Bank of Canada restated a “hold” rating on shares of Methanex in a research note on Friday, August 25th. Jefferies Group increased their price target on shares of Methanex to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, September 12th. TD Securities increased their price target on shares of Methanex to $71.00 and gave the stock a “buy” rating in a research note on Monday, September 18th. Finally, Zacks Investment Research upgraded shares of Methanex from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 26th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. Methanex has an average rating of “Hold” and an average target price of $56.00.

Methanex (NASDAQ:MEOH) opened at $57.25 on Thursday. The firm has a market cap of $4,692.02, a P/E ratio of 16.99, a price-to-earnings-growth ratio of 1.00 and a beta of 1.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.59 and a quick ratio of 1.17. Methanex has a 12 month low of $39.47 and a 12 month high of $58.25.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The firm had revenue of $720.00 million for the quarter, compared to analyst estimates of $614.19 million. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The company’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.01) EPS. equities research analysts expect that Methanex will post 3.72 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in shares of Methanex by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after buying an additional 259 shares in the last quarter. NGAM Advisors L.P. increased its position in shares of Methanex by 1.5% during the 2nd quarter. NGAM Advisors L.P. now owns 22,054 shares of the specialty chemicals company’s stock worth $971,000 after purchasing an additional 333 shares in the last quarter. Sei Investments Co. increased its position in shares of Methanex by 1.5% during the 2nd quarter. Sei Investments Co. now owns 59,413 shares of the specialty chemicals company’s stock worth $2,617,000 after purchasing an additional 872 shares in the last quarter. Ingalls & Snyder LLC increased its position in shares of Methanex by 0.5% during the 3rd quarter. Ingalls & Snyder LLC now owns 236,686 shares of the specialty chemicals company’s stock worth $11,905,000 after purchasing an additional 1,270 shares in the last quarter. Finally, HCR Wealth Advisors increased its position in shares of Methanex by 8.7% during the 3rd quarter. HCR Wealth Advisors now owns 19,701 shares of the specialty chemicals company’s stock worth $991,000 after purchasing an additional 1,585 shares in the last quarter. Institutional investors own 83.13% of the company’s stock.

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About Methanex

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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