Methanex (NASDAQ:MEOH) Given a $45.00 Price Target by Raymond James Financial Analysts

Methanex (NASDAQ:MEOH) (TSE:MX) received a $45.00 target price from Raymond James Financial in a report released on Tuesday, Marketbeat.com reports. The brokerage presently has an “outperform” rating on the specialty chemicals company’s stock. Raymond James Financial’s price objective points to a potential upside of 35.58% from the stock’s previous close.

Several other research firms also recently issued reports on MEOH. CIBC dropped their price target on shares of Methanex from $47.00 to $44.00 and set an “outperformer” rating for the company in a research note on Monday, May 5th. Wall Street Zen downgraded shares of Methanex from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Scotiabank upgraded shares of Methanex from a “sector perform” rating to a “sector outperform” rating and set a $53.00 price objective for the company in a research report on Monday, May 5th. JPMorgan Chase & Co. initiated coverage on shares of Methanex in a research report on Tuesday, June 10th. They set a “neutral” rating and a $33.00 price objective for the company. Finally, UBS Group increased their price objective on shares of Methanex from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $45.63.

Methanex Price Performance

MEOH stock opened at $33.19 on Tuesday. The company has a fifty day moving average price of $33.96 and a 200-day moving average price of $38.26. The company has a market capitalization of $2.57 billion, a P/E ratio of 11.14 and a beta of 0.92. Methanex has a 52-week low of $25.46 and a 52-week high of $54.49. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.52 and a current ratio of 3.17.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, April 30th. The specialty chemicals company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.05. The firm had revenue of $857.90 million during the quarter, compared to the consensus estimate of $1.06 billion. Methanex had a net margin of 6.00% and a return on equity of 12.45%. The company’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. As a group, equities analysts expect that Methanex will post 4.32 EPS for the current year.

Institutional Investors Weigh In On Methanex

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Value Partners Investments Inc. increased its stake in Methanex by 150.1% in the second quarter. Value Partners Investments Inc. now owns 19,272 shares of the specialty chemicals company’s stock valued at $637,000 after purchasing an additional 11,567 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Methanex in the second quarter valued at $33,000. Acadian Asset Management LLC increased its stake in Methanex by 225,333.3% in the first quarter. Acadian Asset Management LLC now owns 33,815 shares of the specialty chemicals company’s stock valued at $1,183,000 after purchasing an additional 33,800 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Methanex in the first quarter valued at $702,000. Finally, Encompass Capital Advisors LLC grew its holdings in shares of Methanex by 86.0% during the first quarter. Encompass Capital Advisors LLC now owns 999,305 shares of the specialty chemicals company’s stock valued at $35,066,000 after buying an additional 461,954 shares during the last quarter. 73.49% of the stock is owned by institutional investors.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. 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.