Methanex (MEOH) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a buy rating to a strong-buy rating in a research report sent to investors on Friday.

A number of other research analysts have also recently issued reports on MEOH. Royal Bank of Canada reaffirmed a hold rating on shares of Methanex in a report on Friday, August 25th. Cowen restated a buy rating and set a $55.00 target price on shares of Methanex in a research report on Friday, September 1st. Jefferies Group raised their target price on shares of Methanex to $60.00 and gave the stock a buy rating in a research report on Tuesday, September 12th. TD Securities raised their target price on shares of Methanex to $71.00 and gave the stock a buy rating in a research report on Monday, September 18th. Finally, Zacks Investment Research upgraded shares of Methanex from a strong sell rating to a hold rating in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $56.47.

Shares of Methanex (NASDAQ MEOH) traded up $0.55 during trading on Friday, reaching $59.50. 528,704 shares of the company’s stock were exchanged, compared to its average volume of 601,898. Methanex has a 12 month low of $39.47 and a 12 month high of $59.75. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.17 and a current ratio of 1.59. The stock has a market capitalization of $4,948.03, a PE ratio of 19.77, a PEG ratio of 1.04 and a beta of 1.82.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Methanex had a net margin of 9.81% and a return on equity of 16.02%. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $614.19 million. During the same period last year, the company posted ($0.01) earnings per share. The firm’s quarterly revenue was up 41.2% compared to the same quarter last year. research analysts predict that Methanex will post 3.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th will be issued a $0.30 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.02%. Methanex’s dividend payout ratio (DPR) is presently 39.87%.

Institutional investors and hedge funds have recently made changes to their positions in the business. ETRADE Capital Management LLC acquired a new position in shares of Methanex in the 3rd quarter valued at $241,000. AHL Partners LLP purchased a new position in shares of Methanex in the 2nd quarter valued at $300,000. PNC Financial Services Group Inc. raised its stake in shares of Methanex by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after acquiring an additional 259 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Methanex in the 2nd quarter valued at $321,000. Finally, Guardian Capital Advisors LP raised its stake in shares of Methanex by 43.0% in the 3rd quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock valued at $475,000 after acquiring an additional 2,240 shares during the period. Institutional investors own 83.07% of the company’s stock.

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Methanex Company Profile

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

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