Sanford C. Bernstein Lowers Methanex (MX) Price Target to C$42.76

Methanex (TSE:MX) (NASDAQ:MEOH) had its price target cut by Sanford C. Bernstein from C$43.86 to C$42.76 in a research note issued on Thursday. Sanford C. Bernstein’s price target indicates a potential downside of 49.46% from the company’s current price.

MX has been the subject of a number of other research reports. BMO Capital Markets reissued an “outperform” rating and issued a C$72.00 price objective on shares of Methanex in a research note on Monday. TD Securities boosted their price objective on shares of Methanex to C$85.00 and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of C$69.63.

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Shares of Methanex stock traded up C$0.26 on Thursday, hitting C$84.61. 184,749 shares of the company traded hands, compared to its average volume of 319,995. Methanex has a 52 week low of C$52.63 and a 52 week high of C$85.30.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data on Wednesday, January 31st. The company reported C$2.16 EPS for the quarter, topping analysts’ consensus estimates of C$1.48 by C$0.68. The company had revenue of C$1.09 billion during the quarter. Methanex had a net margin of 9.86% and a return on equity of 18.05%.

In other Methanex news, Director Wade Wiggins sold 8,100 shares of Methanex stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of C$56.35, for a total value of C$456,435.00. Also, Director Vanessa James sold 7,000 shares of Methanex stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$75.01, for a total transaction of C$525,070.00.

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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 (TSE:MX)

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