Methanex Corporation (NASDAQ:MEOH) (TSE:MX) had its price target raised by Royal Bank Of Canada from $50.00 to $57.00 in a research report released on Friday. They currently have a sector perform rating on the specialty chemicals company’s stock.

Other equities research analysts have also recently issued research reports about the stock. Cowen and Company set a $60.00 target price on shares of Methanex Corporation and gave the company a buy rating in a research report on Friday, July 28th. Monness Crespi & Hardt decreased their price target on shares of Methanex Corporation from $62.00 to $59.00 and set a buy rating for the company in a report on Friday, July 28th. Alembic Global Advisors set a $65.00 price target on shares of Methanex Corporation and gave the stock a buy rating in a report on Thursday, July 27th. BMO Capital Markets reaffirmed a buy rating on shares of Methanex Corporation in a report on Friday, June 30th. Finally, TD Securities decreased their price target on shares of Methanex Corporation from $56.00 to $54.00 and set a buy rating for the company in a report on Friday, July 28th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of $55.50.

Methanex Corporation (NASDAQ MEOH) opened at 50.20 on Friday. The company has a 50-day moving average of $50.84 and a 200-day moving average of $46.00. Methanex Corporation has a one year low of $34.45 and a one year high of $53.35. The stock has a market capitalization of $4.32 billion, a price-to-earnings ratio of 19.53 and a beta of 1.76.

Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Methanex Corporation had a net margin of 9.81% and a return on equity of 16.02%. The company had revenue of $720.00 million during the quarter, compared to analysts’ expectations of $614.19 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. Methanex Corporation’s revenue for the quarter was up 41.2% compared to the same quarter last year. On average, equities analysts forecast that Methanex Corporation will post $4.09 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Methanex Corporation (MEOH) PT Raised to $57.00” was first posted by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://theolympiareport.com/2017/10/31/methanex-corporation-meoh-pt-raised-to-57-00.html.

Methanex Corporation announced that its board has approved a stock buyback plan on Wednesday, July 26th that permits the company to buyback 1,660,000 outstanding shares. This buyback authorization permits the specialty chemicals company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp grew its position in Methanex Corporation by 37.3% during the second quarter. Bank of New York Mellon Corp now owns 3,594,311 shares of the specialty chemicals company’s stock valued at $158,329,000 after buying an additional 976,901 shares during the period. Vanguard Group Inc. grew its position in Methanex Corporation by 3.8% during the second quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock valued at $91,090,000 after buying an additional 76,132 shares during the period. Neuberger Berman Group LLC grew its position in Methanex Corporation by 21.3% during the second quarter. Neuberger Berman Group LLC now owns 1,598,782 shares of the specialty chemicals company’s stock valued at $70,426,000 after buying an additional 281,143 shares during the period. Great West Life Assurance Co. Can grew its position in Methanex Corporation by 0.9% during the second quarter. Great West Life Assurance Co. Can now owns 1,091,259 shares of the specialty chemicals company’s stock valued at $48,036,000 after buying an additional 9,443 shares during the period. Finally, Russell Investments Group Ltd. grew its position in Methanex Corporation by 15.2% during the second quarter. Russell Investments Group Ltd. now owns 1,010,484 shares of the specialty chemicals company’s stock valued at $44,541,000 after buying an additional 133,052 shares during the period. Institutional investors own 81.93% of the company’s stock.

Methanex Corporation 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 Corporation (NASDAQ:MEOH)

Receive News & Ratings for Methanex Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.