Methanex (TSE:MX) Issues Earnings Results

Methanex (TSE:MX) (NASDAQ:MEOH) issued its quarterly earnings data on Thursday. The company reported C($0.19) earnings per share (EPS) for the quarter, FiscalAI reports. Methanex had a return on equity of 8.97% and a net margin of 6.01%.The company had revenue of C$1.28 billion for the quarter.

Methanex Trading Down 3.3%

Shares of MX stock opened at C$75.41 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.59 and a debt-to-equity ratio of 140.64. Methanex has a twelve month low of C$36.10 and a twelve month high of C$78.57. The company has a market capitalization of C$5.83 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 0.44 and a beta of 1.06. The business’s 50 day moving average is C$64.77 and its two-hundred day moving average is C$56.23.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MX. Canadian Imperial Bank of Commerce lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th. Raymond James Financial downgraded Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Finally, Scotiabank raised their price target on Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$50.00.

Methanex Company Profile

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.