Methanex (TSE:MX) Stock Rating Lowered by Royal Bank Of Canada

Methanex (TSE:MX) (NASDAQ:MEOH) was downgraded by equities research analysts at Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a research note issued on Wednesday,Zacks.com reports.

Other analysts also recently issued reports about the company. Scotiabank lifted their price target on Methanex from C$48.00 to C$60.00 in a research note on Wednesday, January 21st. Canadian Imperial Bank of Commerce cut Methanex from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 6th. Finally, Raymond James Financial lowered shares of Methanex from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, January 14th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Methanex currently has a consensus rating of “Moderate Buy” and a consensus target price of C$50.00.

Methanex Trading Up 1.4%

TSE MX opened at C$83.13 on Wednesday. The company has a quick ratio of 1.59, a current ratio of 2.06 and a debt-to-equity ratio of 143.59. The stock has a market capitalization of C$6.43 billion, a P/E ratio of 89.39, a P/E/G ratio of 0.44 and a beta of 1.06. Methanex has a 52-week low of C$36.10 and a 52-week high of C$92.97. The firm has a 50-day moving average price of C$71.09 and a 200 day moving average price of C$59.96.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Thursday, March 5th. The company reported C($0.19) earnings per share for the quarter. The business had revenue of C$1.28 billion during the quarter. Methanex had a net margin of 2.19% and a return on equity of 3.18%. Equities research analysts expect that Methanex will post 5.9482927 EPS for the current year.

Insider Transactions at Methanex

In other news, insider Mark Allard sold 2,000 shares of Methanex stock in a transaction that occurred on Friday, March 27th. The shares were sold at an average price of C$86.00, for a total transaction of C$172,000.00. Following the completion of the sale, the insider directly owned 16,604 shares in the company, valued at approximately C$1,427,944. This trade represents a 10.75% decrease in their position. Company insiders own 0.35% of the company’s stock.

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.