Methanex (MEOH) Lowered to Neutral at CIBC

CIBC downgraded shares of Methanex (NASDAQ:MEOH) (TSE:MX) from an outperform rating to a neutral rating in a report released on Tuesday morning.

Other analysts have also issued research reports about the stock. Jefferies Group raised their price target on shares of Methanex to $60.00 and gave the company a buy rating in a report on Tuesday, September 12th. Royal Bank of Canada reissued a hold rating and issued a $63.00 price target on shares of Methanex in a report on Friday, December 22nd. TD Securities raised their price target on shares of Methanex from $58.00 to $59.00 and gave the company a buy rating in a report on Friday, October 27th. BidaskClub lowered shares of Methanex from a strong-buy rating to a buy rating in a report on Tuesday. Finally, Scotiabank raised their price target on shares of Methanex from $53.50 to $74.00 and gave the company a sector perform rating in a report on Thursday, November 30th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $57.20.

Methanex (NASDAQ:MEOH) traded up $0.45 during midday trading on Tuesday, hitting $61.25. 706,242 shares of the stock traded hands, compared to its average volume of 491,815. The firm has a market capitalization of $5,103.31, a price-to-earnings ratio of 20.35, a price-to-earnings-growth ratio of 0.89 and a beta of 1.82. The company has a current ratio of 1.59, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. Methanex has a 12 month low of $39.47 and a 12 month high of $64.40.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $720.00 million during the quarter, compared to analyst estimates of $614.19 million. Methanex had a net margin of 9.81% and a return on equity of 16.02%. Methanex’s revenue for the quarter was up 41.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.01) earnings per share. research analysts expect that Methanex will post 3.89 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 31st. Shareholders of record on Sunday, December 17th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.96%. Methanex’s payout ratio is presently 39.87%.

A number of hedge funds have recently made changes to their positions in MEOH. ETRADE Capital Management LLC bought a new position in Methanex in the third quarter valued at approximately $241,000. AHL Partners LLP bought a new position in Methanex in the second quarter valued at approximately $300,000. PNC Financial Services Group Inc. boosted its stake in Methanex by 3.9% in the second 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 last quarter. Quantitative Investment Management LLC bought a new position in Methanex in the second quarter valued at approximately $321,000. Finally, Trexquant Investment LP bought a new position in Methanex in the third quarter valued at approximately $388,000. 83.07% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Methanex (NASDAQ:MEOH)

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