Methanex (TSE:MX) Stock Price Down 13.1% – Should You Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price was down 13.1% on Wednesday . The stock traded as low as C$74.26 and last traded at C$76.94. Approximately 39,068 shares traded hands during trading, a decline of 89% from the average daily volume of 346,505 shares. The stock had previously closed at C$88.58.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on MX shares. Raymond James Financial lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Royal Bank Of Canada lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 1st. Canadian Imperial Bank of Commerce lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Scotiabank lifted their target price on shares of Methanex from C$48.00 to C$60.00 in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of C$50.00.

Methanex Stock Performance

The company has a debt-to-equity ratio of 143.59, a quick ratio of 1.59 and a current ratio of 2.06. The firm’s 50-day moving average price is C$72.32 and its two-hundred day moving average price is C$60.71. The firm has a market capitalization of C$6.06 billion, a price-to-earnings ratio of 84.22, a price-to-earnings-growth ratio of 0.44 and a beta of 0.46.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its earnings results on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. The business had revenue of C$1.28 billion for the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. Sell-side analysts predict that Methanex Co. will post 5.9482927 earnings per share for the current year.

Insider Buying and Selling

In other Methanex news, insider Mark Allard sold 2,000 shares of the business’s stock in a transaction dated Friday, March 27th. The shares were sold at an average price of C$86.00, for a total value of C$172,000.00. Following the transaction, the insider directly owned 16,604 shares in the company, valued at C$1,427,944. The trade was a 10.75% decrease in their ownership of the stock. 0.35% of the stock is currently owned by company insiders.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.