Methanex (NASDAQ:MEOH) Stock Rating Lowered by Wall Street Zen

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by investment analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

MEOH has been the subject of a number of other reports. UBS Group raised their target price on Methanex from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Methanex from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 29th. Royal Bank Of Canada reduced their price objective on Methanex from $70.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 1st. Canadian Imperial Bank of Commerce upgraded shares of Methanex from a “neutral” rating to a “sector outperform” rating and increased their target price for the stock from $69.00 to $71.00 in a report on Monday, July 20th. Finally, Scotiabank lifted their price target on shares of Methanex from $70.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, May 5th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.56.

Methanex Price Performance

Shares of NASDAQ:MEOH opened at $56.12 on Friday. Methanex has a 1-year low of $32.00 and a 1-year high of $66.75. The company has a current ratio of 2.07, a quick ratio of 1.35 and a debt-to-equity ratio of 0.83. The stock has a market cap of $4.34 billion, a PE ratio of 54.49 and a beta of 0.58. The stock’s fifty day simple moving average is $52.85 and its two-hundred day simple moving average is $55.01.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings results on Tuesday, July 28th. The specialty chemicals company reported $3.87 earnings per share for the quarter, missing analysts’ consensus estimates of $4.00 by ($0.13). Methanex had a net margin of 2.07% and a return on equity of 11.35%. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the business earned $0.97 earnings per share. The firm’s revenue for the quarter was up 75.0% on a year-over-year basis. As a group, analysts forecast that Methanex will post 8.62 EPS for the current fiscal year.

Institutional Investors Weigh In On Methanex

Several large investors have recently bought and sold shares of MEOH. Amundi raised 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 valued at $800,000 after buying an additional 848 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in shares of Methanex in the 2nd quarter worth $419,000. Invesco Ltd. increased its position in Methanex by 15.7% during the 2nd quarter. Invesco Ltd. now owns 249,231 shares of the specialty chemicals company’s stock valued at $8,250,000 after purchasing an additional 33,827 shares during the period. AXA S.A. purchased a new stake in Methanex during the second quarter worth $166,000. Finally, Qube Research & Technologies Ltd grew its stake in Methanex by 327.0% in the second quarter. Qube Research & Technologies Ltd now owns 47,284 shares of the specialty chemicals company’s stock valued at $1,565,000 after purchasing an additional 36,211 shares during the last quarter. Institutional investors own 73.49% of the company’s stock.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).