Methanex (NASDAQ:MEOH) Stock Crosses Above 200 Day Moving Average – Time to Sell?

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $34.13 and traded as high as $36.62. Methanex shares last traded at $35.57, with a volume of 330,680 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MEOH. CIBC raised their price target on Methanex from $42.00 to $44.00 and gave the stock an “outperformer” rating in a research report on Friday, August 1st. Royal Bank Of Canada raised shares of Methanex from a “sector perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research note on Friday, August 1st. Jefferies Financial Group lifted their target price on Methanex from $45.00 to $53.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. National Bank Financial started coverage on Methanex in a research report on Friday, September 26th. They issued an “outperform” rating and a $47.00 target price on the stock. Finally, National Bankshares set a $47.00 price target on shares of Methanex and gave the company an “outperform” rating in a report on Thursday, September 25th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Methanex presently has a consensus rating of “Buy” and a consensus price target of $46.00.

Methanex Stock Down 0.8%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.43 and a current ratio of 2.13. The stock has a market capitalization of $2.75 billion, a P/E ratio of 10.49 and a beta of 0.94. The stock’s fifty day simple moving average is $36.99 and its two-hundred day simple moving average is $34.13.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Wednesday, July 30th. The specialty chemicals company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.55. Methanex had a return on equity of 12.61% and a net margin of 7.02%.The firm had revenue of $808.46 million for the quarter, compared to analyst estimates of $835.04 million. During the same quarter in the previous year, the company posted $0.62 EPS. The business’s revenue was down 13.4% on a year-over-year basis. As a group, research analysts expect that Methanex Corporation will post 4.32 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Deutsche Bank AG boosted its stake in Methanex by 19.9% during the first quarter. Deutsche Bank AG now owns 3,007 shares of the specialty chemicals company’s stock worth $106,000 after acquiring an additional 500 shares in the last quarter. Value Partners Investments Inc. boosted its position in shares of Methanex by 3.0% during the 3rd quarter. Value Partners Investments Inc. now owns 19,842 shares of the specialty chemicals company’s stock worth $789,000 after purchasing an additional 570 shares in the last quarter. Amundi boosted its position in shares of Methanex by 3.9% during the 1st quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock worth $800,000 after purchasing an additional 848 shares in the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Methanex by 25.7% during the 1st quarter. SBI Securities Co. Ltd. now owns 4,190 shares of the specialty chemicals company’s stock worth $147,000 after purchasing an additional 857 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Methanex during the 2nd quarter worth about $33,000. 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.