Methanex (MEOH) Rating Lowered to Hold at Jefferies Financial Group

Methanex (NASDAQ:MEOH) (TSE:MX) was downgraded by equities researchers at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued on Friday, The Fly reports.

MEOH has been the topic of several other reports. Raymond James upgraded shares of Methanex from a “market perform” rating to an “outperform” rating and upped their price target for the company from $72.00 to $90.00 in a research note on Thursday, September 13th. BidaskClub upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. Royal Bank of Canada upped their price target on shares of Methanex from $78.00 to $83.00 and gave the company a “sector perform” rating in a research note on Monday, October 1st. MED restated a “buy” rating on shares of Methanex in a research note on Monday, November 5th. Finally, TD Securities upgraded shares of Methanex from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Friday, October 26th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $81.07.

NASDAQ:MEOH opened at $53.82 on Friday. Methanex has a one year low of $52.24 and a one year high of $83.23. The firm has a market capitalization of $4.32 billion, a price-to-earnings ratio of 11.43, a P/E/G ratio of 0.57 and a beta of 1.58. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.27 and a current ratio of 1.70.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its quarterly earnings data on Wednesday, October 24th. The specialty chemicals company reported $1.92 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.07). Methanex had a net margin of 12.48% and a return on equity of 34.25%. The company had revenue of $1.04 billion during the quarter. On average, analysts predict that Methanex will post 6.43 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of MEOH. Canada Pension Plan Investment Board lifted its position in Methanex by 60.1% during the second quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock worth $42,525,000 after purchasing an additional 226,000 shares during the period. Janus Henderson Group PLC lifted its position in Methanex by 173.8% during the second quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock worth $24,753,000 after purchasing an additional 222,338 shares during the period. AQR Capital Management LLC lifted its position in Methanex by 9.0% during the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock worth $192,573,000 after purchasing an additional 200,663 shares during the period. Strs Ohio bought a new stake in Methanex during the second quarter worth about $13,345,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Methanex by 113.0% in the third quarter. Renaissance Technologies LLC now owns 246,598 shares of the specialty chemicals company’s stock worth $19,506,000 after acquiring an additional 130,800 shares during the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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