Methanex (TSE:MX) Reaches New 52-Week High – Time to Buy?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as C$79.81 and last traded at C$79.76, with a volume of 356597 shares traded. The stock had previously closed at C$72.60.

Analysts Set New Price Targets

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

Methanex Price Performance

The stock’s 50 day moving average is C$66.00 and its two-hundred day moving average is C$56.93. 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 stock has a market capitalization of C$6.17 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 0.44 and a beta of 1.06.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. The firm had revenue of C$1.28 billion during the quarter. On average, equities analysts anticipate that Methanex Co. will post 5.9482927 EPS for the current fiscal 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.