Methanex (TSE:MX) Receives Buy Rating from BMO Capital Markets

Methanex (TSE:MX) (NASDAQ:MEOH)The stock was reiterated its “buy” rating by BMO Capital Markets in a research note released Friday to investors, TipRanks reports. They currently have a target price of CA$60.00 on the stock. BMO Capital Markets’ target price would indicate a potential upside of 2.69% from the stock’s previous close.

Several other research companies have also recently commented on MX. UBS Group raised its price target on Methanex shares to C$45.00 and gave the stock a “sell” rating in a research report on Thursday. Tudor Pickering reiterated a “hold” rating and set a C$55.00 price target on Methanex shares in a research report Wednesday. Tudor Pickering & Holt set a price target of C$44.00 on Methanex shares and gave the company a “holding” rating in a Wednesday, Dec. 22 research report. TD Securities raised its price target on Methanex shares to C$75.00 and gave the company a “buy” rating in a Thursday, September 30 research report. Finally, CIBC reiterated a “hold” rating and published a C$67.00 target price on Methanex shares in a research report on Friday, October 29. One analyst rated the stock with a sell rating, four assigned a hold rating and six assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus quote of “Hold” and a consensus target price of C$57.18.

Shares of MX were down C$1.09 during Friday trading hours, hitting C$58.43. The stock had a trading volume of 110,723 shares, compared to an average volume of 167,488. Methanex has a 1-year low of C$37.85 and a 1-year high of C$65.22. The company has a market capitalization of C$4.35 billion and a P/E ratio of 14.30. The company has a debt ratio of 151.83, a current ratio of 2.17 and a quick ratio of 1.65. The company has a 50-day simple moving average of C$53.66 and a 200-day simple moving average of C$51.05.

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Methanex (TSE:MX) (NASDAQ:MEOH) last reported quarterly results on Wednesday, October 27. The company reported earnings per share of C$1.62 for the quarter, missing Thomson Reuters consensus estimate of C$1.66 by C$0.04. The company posted revenue of C$1.36 billion for the quarter, compared to analysts’ estimates of C$1.30 billion. Equity analysts predict that Methanex will post EPS of 5.8200002 for the current fiscal year.

In other Methanex news, director Alejandro Larrive sold 3,000 shares in a trade that took place on Friday, December 3. The shares were sold at an average price of CA$50.91, for a total value of CA$152,736.00. As a result of the transaction, the administrator now directly owns 12,825 shares of the company, valued at C$652,946.40.

About Methanex

Methanex Corporation produces and supplies methanol in North America, Asia-Pacific, Europe and South America. The Company also purchases methanol produced by others under methanol removal contracts and on the spot market. In addition, it owns and leases storage facilities and terminals. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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Analyst recommendations for Methanex (TSE:MX)

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