Methanex (TSE:MX) Stock Rating Lowered by Cibc Captl Mkts

Methanex (TSE:MX) (NASDAQ:MEOH) was downgraded by investment analysts at Cibc Captl Mkts from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

Several other research firms also recently commented on MX. Raymond James Financial downgraded Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. Scotiabank raised their price target on shares of Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of C$50.00.

Methanex Trading Up 0.1%

MX stock opened at C$64.50 on Friday. The company’s 50 day moving average price is C$59.29 and its two-hundred day moving average price is C$53.40. Methanex has a one year low of C$36.10 and a one year high of C$73.72. The company has a debt-to-equity ratio of 148.53, a quick ratio of 1.59 and a current ratio of 1.34. The company has a market capitalization of C$4.99 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 0.44 and a beta of 1.11.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Wednesday, October 29th. The company reported C($0.09) earnings per share for the quarter. The firm had revenue of C$1.29 billion during the quarter. Methanex had a return on equity of 7.70% and a net margin of 4.13%. As a group, analysts predict that Methanex will post 5.9482927 earnings per share for the current fiscal year.

About Methanex

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.