Today: The Methanex Corp. (MEOH) Receives $38.79 Average Price Target from Analysts

The Methanex Corp. (MEOH) Receives $38.79 Average Price Target from Analysts

Methanex Corp. (NASDAQ:MEOH) has received an average recommendation of “Buy” from the eleven analysts that are covering the company. Four analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $38.79.

MEOH has been the topic of several research analyst reports. CIBC upgraded shares of Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 price objective on the stock in a research note on Tuesday, July 5th. BMO Capital Markets raised their price objective on shares of Methanex Corp. from $36.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, September 29th. Jefferies Group restated a “buy” rating on shares of Methanex Corp. in a research note on Wednesday, July 6th. Zacks Investment Research raised Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Finally, Scotiabank reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Methanex Corp. in a research report on Wednesday, August 31st.

Methanex Corp. (NASDAQ:MEOH) opened at 36.71 on Tuesday. Methanex Corp. has a 12 month low of $22.73 and a 12 month high of $44.95. The company has a 50-day moving average of $32.13 and a 200-day moving average of $31.08. The company has a market cap of $3.30 billion, a price-to-earnings ratio of 83.24 and a beta of 2.00.

Methanex Corp. (NASDAQ:MEOH) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.25) by $0.09. The company earned $468 million during the quarter, compared to analyst estimates of $422.82 million. Methanex Corp. had a return on equity of 2.10% and a net margin of 3.22%. The company’s revenue was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 EPS. Analysts predict that Methanex Corp. will post ($0.76) EPS for the current year.

Several large investors have recently modified their holdings of MEOH. Quantbot Technologies LP bought a new stake in shares of Methanex Corp. during the second quarter valued at $109,000. Polaris Capital Management LLC boosted its stake in shares of Methanex Corp. by 19.7% in the second quarter. Polaris Capital Management LLC now owns 4,250 shares of the company’s stock valued at $124,000 after buying an additional 700 shares during the last quarter. First Interstate Bank boosted its stake in shares of Methanex Corp. by 19.2% in the second quarter. First Interstate Bank now owns 5,250 shares of the company’s stock valued at $153,000 after buying an additional 845 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Methanex Corp. by 104.6% in the second quarter. Citigroup Inc. now owns 6,045 shares of the company’s stock valued at $175,000 after buying an additional 137,805 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Methanex Corp. during the second quarter valued at $243,000. 87.01% of the stock is owned by institutional investors.

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