Methanex (TSE:MX) Trading Down 8.7% – Time to Sell?

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s stock price fell 8.7% during mid-day trading on Friday . The stock traded as low as C$72.53 and last traded at C$73.00. 110,547 shares were traded during trading, a decline of 68% from the average session volume of 347,274 shares. The stock had previously closed at C$79.94.

Analysts Set New Price Targets

Several research firms have issued reports on MX. Scotiabank boosted their price target on Methanex from C$48.00 to C$60.00 in a report on Wednesday, January 21st. Royal Bank Of Canada lowered Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. Raymond James Financial lowered Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$50.00.

Methanex Stock Performance

The stock has a market cap of C$5.74 billion, a P/E ratio of 79.83, a price-to-earnings-growth ratio of 0.44 and a beta of 0.46. The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 143.59. The business has a 50 day moving average price of C$74.61 and a two-hundred day moving average price of C$62.10.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. The business had revenue of C$1.28 billion during the quarter. Methanex had a return on equity of 3.18% and a net margin of 2.19%. On average, sell-side analysts forecast that Methanex Co. will post 5.9482927 earnings per share for the current fiscal year.

Insider Activity at Methanex

In related news, insider Mark Allard sold 2,000 shares of the business’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$86.00, for a total value of C$172,000.00. Following the sale, the insider directly owned 16,604 shares in the company, valued at approximately C$1,427,944. The trade was a 10.75% decrease in their ownership of the stock. Corporate insiders own 0.35% of the company’s stock.

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.