Barclays Downgrades Methanex (TSE:MX) to Hold

Methanex (TSE:MX) (NASDAQ:MEOH) was downgraded by research analysts at Barclays from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

Separately, Piper Sandler upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

Methanex Stock Down 5.5 %

MX opened at C$50.11 on Tuesday. The business has a 50 day simple moving average of C$63.15 and a 200-day simple moving average of C$64.78. Methanex has a 12 month low of C$50.05 and a 12 month high of C$74.25. The stock has a market capitalization of C$3.38 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.44 and a beta of 1.82. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings data on Tuesday, July 30th. The company reported C$0.85 EPS for the quarter, beating the consensus estimate of C$0.66 by C$0.19. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The firm had revenue of C$1.26 billion during the quarter, compared to analysts’ expectations of C$1.35 billion. On average, equities analysts anticipate that Methanex will post 3.7762448 earnings per share for the current fiscal year.

Insider Buying and Selling at Methanex

In related news, Director Alejandro Larrive sold 1,000 shares of the firm’s stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$66.00, for a total transaction of C$66,003.30. 0.33% of the stock is currently owned by insiders.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.