Methanex’s (MX) Hold Rating Reaffirmed at Alembic Global Advisors

Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH)‘s stock had its “hold” rating restated by analysts at Alembic Global Advisors in a research report issued on Tuesday, Stock Target Advisor reports.

Other equities research analysts also recently issued reports about the stock. BMO Capital Markets reissued a “buy” rating and issued a C$60.00 price target on shares of Methanex in a report on Friday, January 28th. Raymond James reiterated a “hold” rating and issued a C$66.00 target price on shares of Methanex in a research note on Thursday, January 27th. UBS Group boosted their price target on shares of Methanex to C$45.00 and gave the company a “sell” rating in a research report on Thursday, January 27th. Royal Bank of Canada reiterated an “outperform” rating and issued a C$60.00 price objective on shares of Methanex in a research report on Tuesday, January 4th. Finally, Tudor Pickering & Holt set a C$44.00 target price on Methanex and gave the stock a “hold” rating in a research report on Wednesday, December 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Methanex has an average rating of “Hold” and a consensus price target of C$57.18.

MX stock traded down C$1.18 during midday trading on Tuesday, reaching C$69.34. 54,794 shares of the company’s stock traded hands, compared to its average volume of 168,199. The firm has a market capitalization of C$5.10 billion and a PE ratio of 8.99. The company has a 50-day moving average price of C$66.31 and a two-hundred day moving average price of C$59.76. Methanex has a 52 week low of C$37.85 and a 52 week high of C$71.63. The company has a debt-to-equity ratio of 147.09, a quick ratio of 1.54 and a current ratio of 2.07.

Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, January 26th. The company reported C$3.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of C$3.20 by C($0.14). The firm had revenue of C$1.58 billion during the quarter, compared to the consensus estimate of C$1.66 billion. As a group, analysts predict that Methanex will post 5.0092703 EPS for the current fiscal year.

In other Methanex news, Director Mark Allard sold 3,000 shares of the firm’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of C$70.00, for a total value of C$210,000.00. Following the sale, the director now owns 13,538 shares of the company’s stock, valued at approximately C$947,660. Also, Director Vanessa James sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, March 31st. The shares were sold at an average price of C$68.15, for a total value of C$511,125.00. Following the transaction, the director now directly owns 35,444 shares of the company’s stock, valued at approximately C$2,415,508.60. Over the last 90 days, insiders have sold 11,600 shares of company stock valued at $798,048.

About Methanex (Get Rating)

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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