Methanex (TSE:MX) Price Target Raised to C$60.00 at Scotiabank

Methanex (TSE:MX) (NASDAQ:MEOH) had its target price upped by Scotiabank from C$48.00 to C$60.00 in a research report released on Wednesday morning,BayStreet.CA reports.

A number of other analysts also recently weighed in on MX. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a report on Thursday, September 25th. Raymond James Financial cut Methanex from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of C$50.00.

Methanex Stock Performance

TSE:MX opened at C$66.85 on Wednesday. The company has a market cap of C$5.17 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 0.44 and a beta of 1.25. Methanex has a fifty-two week low of C$36.10 and a fifty-two week high of C$78.18. 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 stock has a fifty day moving average price of C$55.43 and a 200-day moving average price of C$51.77.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its quarterly earnings results on Wednesday, October 29th. The company reported C($0.09) EPS for the quarter. The company had revenue of C$1.29 billion during the quarter. Methanex had a net margin of 4.13% and a return on equity of 7.70%. As a group, equities analysts anticipate that Methanex will post 5.9482927 EPS 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.