Methanex Corp. (NASDAQ: MEOH)’s stock price has increased by 0.13 compared to its previous closing price of 47.71. However, the company has seen a 1.51% increase in its stock price over the last five trading sessions. Seeking Alpha reported 2024-04-25 that Methanex Corporation (NASDAQ:MEOH ) Q1 2024 Earnings Conference Call April 25, 2024 11:00 AM ET Company Participants Sarah Herriott – Director, Investor Relations Rich Sumner – President & Chief Executive Officer Conference Call Participants Joshua Spector – UBS Joel Jackson – BMO Capital Markets Hassan Ahmed – Alembic Global Steve Hansen – Raymond James Matthew Blair – TPH Nelson Ng – RBC Capital Markets Operator Good morning. My name is Kathleen and I will be your conference operator today.
Is It Worth Investing in Methanex Corp. (NASDAQ: MEOH) Right Now?
Methanex Corp. (NASDAQ: MEOH) has a higher price-to-earnings ratio of 19.36x compared to its average ratio. MEOH has 36-month beta value of 1.50. Analysts have mixed views on the stock, with 5 analysts rating it as a “buy,” 2 as “overweight,” 5 as “hold,” and 1 as “sell.”
The public float for MEOH is 66.74M, and currently, short sellers hold a 2.00% ratio of that float. The average trading volume of MEOH on April 26, 2024 was 317.60K shares.
MEOH’s Market Performance
MEOH’s stock has seen a 1.51% increase for the week, with a 7.59% rise in the past month and a 3.96% gain in the past quarter. The volatility ratio for the week is 3.86%, and the volatility levels for the past 30 days are at 3.10% for Methanex Corp. The simple moving average for the past 20 days is -0.20% for MEOH’s stock, with a 8.37% simple moving average for the past 200 days.
Analysts’ Opinion of MEOH
Many brokerage firms have already submitted their reports for MEOH stocks, with UBS repeating the rating for MEOH by listing it as a “Buy.” The predicted price for MEOH in the upcoming period, according to UBS is $60 based on the research report published on February 08, 2024 of the current year 2024.
UBS, on the other hand, stated in their research note that they expect to see MEOH reach a price target of $45, previously predicting the price at $40. The rating they have provided for MEOH stocks is “Neutral” according to the report published on November 02nd, 2023.
Scotiabank gave a rating of “Sector Outperform” to MEOH, setting the target price at $54 in the report published on October 30th of the previous year.
MEOH Trading at 5.06% from the 50-Day Moving Average
After a stumble in the market that brought MEOH to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -7.10% of loss for the given period.
Volatility was left at 3.10%, however, over the last 30 days, the volatility rate increased by 3.86%, as shares surge +6.13% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.99% upper at present.
During the last 5 trading sessions, MEOH rose by +1.51%, which changed the moving average for the period of 200-days by +11.87% in comparison to the 20-day moving average, which settled at $48.00. In addition, Methanex Corp. saw 0.87% in overturn over a single year, with a tendency to cut further gains.
Stock Fundamentals for MEOH
Current profitability levels for the company are sitting at:
- 0.08 for the present operating margin
- 0.15 for the gross margin
The net margin for Methanex Corp. stands at 0.05. The total capital return value is set at 0.06. Equity return is now at value 8.38, with 2.57 for asset returns.
Based on Methanex Corp. (MEOH), the company’s capital structure generated 0.54 points at debt to capital in total, while cash flow to debt ratio is standing at 0.26. The debt to equity ratio resting at 1.17. The interest coverage ratio of the stock is 2.25.
Currently, EBITDA for the company is 667.42 million with net debt to EBITDA at 3.28. When we switch over and look at the enterprise to sales, we see a ratio of 1.54. The receivables turnover for the company is 7.06for trailing twelve months and the total asset turnover is 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.17.
Conclusion
To put it simply, Methanex Corp. (MEOH) has had a better performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
