Methanex (TSE:MX) Shares Down 9.8% – What’s Next?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price traded down 9.8% on Friday . The company traded as low as C$69.95 and last traded at C$70.33. 356,247 shares traded hands during mid-day trading, an increase of 50% from the average session volume of 236,774 shares. The stock had previously closed at C$78.00.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on MX. Scotiabank raised their target price on shares of Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. Raymond James Financial lowered Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce downgraded Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Methanex presently has a consensus rating of “Moderate Buy” and an average price target of C$50.00.

Methanex Price Performance

The company has a market cap of C$5.38 billion, a P/E ratio of 23.34, a P/E/G ratio of 0.44 and a beta of 1.06. The stock has a 50-day simple moving average of C$64.77 and a 200 day simple moving average of C$56.23. The company has a debt-to-equity ratio of 140.64, a quick ratio of 1.59 and a current ratio of 2.09.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its earnings results on Thursday, March 5th. The company reported C($0.19) EPS for the quarter. The firm had revenue of C$1.28 billion during the quarter. Methanex had a return on equity of 8.97% and a net margin of 6.01%. On average, equities analysts expect that Methanex Co. will post 5.9482927 EPS for the current year.

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.