Jefferies Financial Group Raises Methanex (NASDAQ:MEOH) Price Target to $73.00

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) had its price objective hoisted by equities researchers at Jefferies Financial Group from $67.00 to $73.00 in a report released on Thursday, The Fly reports. Jefferies Financial Group’s target price would suggest a potential upside of 62.44% from the stock’s current price.

A number of other equities analysts also recently commented on the company. Barclays boosted their price objective on Methanex from $60.00 to $63.00 in a research report on Monday, May 2nd. Raymond James set a $58.00 price target on Methanex and gave the company a “market perform” rating in a report on Thursday, April 28th. StockNews.com downgraded Methanex from a “strong-buy” rating to a “buy” rating in a report on Thursday, May 5th. Piper Sandler downgraded Methanex from a “neutral” rating to an “underweight” rating and lowered their price target for the company from $49.00 to $48.00 in a report on Tuesday, May 10th. Finally, Scotiabank downgraded Methanex from a “sector outperform” rating to a “sector perform” rating and set a $50.00 price target for the company. in a report on Tuesday, May 31st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Methanex has a consensus rating of “Hold” and an average target price of $54.15.

Shares of Methanex stock opened at $44.94 on Thursday. Methanex has a one year low of $29.61 and a one year high of $56.79. The company has a market cap of $3.25 billion, a PE ratio of 7.08 and a beta of 1.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.82 and a current ratio of 2.28. The business has a 50-day simple moving average of $50.86 and a 200-day simple moving average of $48.30.

Methanex (NASDAQ:MEOHGet Rating) (TSE:MX) last announced its quarterly earnings data on Wednesday, April 27th. The specialty chemicals company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $2.09 by $0.07. Methanex had a return on equity of 27.41% and a net margin of 10.87%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $1.07 earnings per share. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. On average, sell-side analysts predict that Methanex will post 7.36 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Lazard Asset Management LLC lifted its stake in Methanex by 37.2% in the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company’s stock valued at $60,000 after buying an additional 302 shares during the last quarter. Van ECK Associates Corp lifted its stake in Methanex by 64.7% in the first quarter. Van ECK Associates Corp now owns 779 shares of the specialty chemicals company’s stock valued at $42,000 after buying an additional 306 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Methanex by 9.7% in the fourth quarter. Quadrant Capital Group LLC now owns 3,846 shares of the specialty chemicals company’s stock valued at $152,000 after buying an additional 339 shares during the last quarter. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Methanex during the first quarter worth approximately $27,000. Finally, BlackRock Inc. raised its stake in shares of Methanex by 0.4% during the third quarter. BlackRock Inc. now owns 157,163 shares of the specialty chemicals company’s stock worth $7,236,000 after purchasing an additional 552 shares during the last quarter. Institutional investors own 91.37% of the company’s stock.

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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