Methanex (MEOH) Downgraded by BidaskClub to “Strong Sell”

BidaskClub lowered shares of Methanex (NASDAQ:MEOH) (TSE:MX) from a sell rating to a strong sell rating in a research note released on Friday.

Several other equities analysts also recently commented on the stock. Citigroup lowered their target price on shares of Methanex from $84.00 to $72.00 and set a hold rating on the stock in a research report on Monday, October 29th. Tudor Pickering raised shares of Methanex from a hold rating to a buy rating and set a $84.00 target price on the stock in a research report on Monday, October 29th. Cowen increased their target price on shares of Methanex from $80.00 to $89.00 and gave the stock an outperform rating in a research report on Monday, October 15th. TD Securities raised shares of Methanex from a hold rating to a buy rating and set a $77.00 target price on the stock in a research report on Friday, October 26th. They noted that the move was a valuation call. Finally, CIBC raised shares of Methanex from a neutral rating to an outperform rating in a research report on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $81.50.

NASDAQ MEOH opened at $55.44 on Friday. Methanex has a 1-year low of $51.05 and a 1-year high of $83.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.27 and a current ratio of 1.70. The firm has a market capitalization of $4.34 billion, a PE ratio of 11.77, a P/E/G ratio of 0.54 and a beta of 1.62.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.07). Methanex had a return on equity of 34.25% and a net margin of 12.48%. The company had revenue of $1.04 billion during the quarter. On average, sell-side analysts predict that Methanex will post 6.88 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.38%. The ex-dividend date is Friday, December 14th. Methanex’s payout ratio is 28.03%.

A number of hedge funds have recently added to or reduced their stakes in MEOH. SG Americas Securities LLC bought a new stake in Methanex during the third quarter valued at about $181,000. Highstreet Asset Management Inc. bought a new stake in Methanex during the second quarter valued at about $183,000. Cerebellum GP LLC bought a new stake in Methanex during the third quarter valued at about $188,000. Advisors Preferred LLC boosted its holdings in Methanex by 57.8% during the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock valued at $190,000 after acquiring an additional 985 shares during the period. Finally, One Capital Management LLC bought a new stake in Methanex during the second quarter valued at about $212,000. Institutional investors own 74.99% of the company’s stock.

About Methanex

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

Read More: Do stock splits help investors?

Analyst Recommendations for Methanex (NASDAQ:MEOH)

Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit