Raymond James Financial Weighs in on Methanex Corp.’s Q4 2016 Earnings (MEOH)
Methanex Corp. (NASDAQ:MEOH) – Research analysts at Raymond James Financial lowered their Q4 2016 earnings estimates for shares of Methanex Corp. in a research report issued to clients and investors on Monday. Raymond James Financial analyst S. Hansen now expects that the firm will earn $0.08 per share for the quarter, down from their previous forecast of $0.10. Raymond James Financial currently has a “Outperform” rating and a $40.00 target price on the stock. Raymond James Financial also issued estimates for Methanex Corp.’s Q2 2017 earnings at $0.14 EPS, FY2017 earnings at $1.51 EPS and FY2018 earnings at $2.28 EPS.
Other equities analysts also recently issued reports about the stock. Jefferies Group reiterated a “buy” rating and issued a $41.00 price objective on shares of Methanex Corp. in a report on Wednesday, June 15th. Citigroup Inc. reiterated a “hold” rating and issued a $31.00 price objective (down from $35.00) on shares of Methanex Corp. in a report on Friday, July 15th. Cowen and Company decreased their price objective on shares of Methanex Corp. from $43.00 to $40.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. CIBC upgraded shares of Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 price objective on the stock in a report on Tuesday, July 5th. Finally, Zacks Investment Research downgraded shares of Methanex Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 28th. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.45.
Shares of Methanex Corp. (NASDAQ:MEOH) opened at 34.11 on Tuesday. The firm has a market cap of $3.06 billion, a PE ratio of 77.35 and a beta of 2.00. The firm has a 50-day moving average of $30.73 and a 200 day moving average of $30.91. Methanex Corp. has a 52-week low of $22.73 and a 52-week high of $44.95.
Methanex Corp. (NASDAQ:MEOH) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.25) by $0.09. The company earned $468 million during the quarter, compared to analyst estimates of $422.82 million. Methanex Corp. had a net margin of 3.22% and a return on equity of 2.10%. The company’s revenue was down 26.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.56 EPS.
Large investors have recently bought and sold shares of the company. Legal & General Group Plc boosted its stake in Methanex Corp. by 19.3% in the second quarter. Legal & General Group Plc now owns 79,903 shares of the company’s stock valued at $2,313,000 after buying an additional 12,936 shares in the last quarter. Fiera Capital Corp boosted its stake in Methanex Corp. by 59.9% in the second quarter. Fiera Capital Corp now owns 1,617,442 shares of the company’s stock valued at $46,844,000 after buying an additional 605,680 shares in the last quarter. AHL Partners LLP purchased a new stake in Methanex Corp. during the second quarter valued at $1,148,000. Guggenheim Capital LLC boosted its stake in Methanex Corp. by 120.9% in the second quarter. Guggenheim Capital LLC now owns 23,417 shares of the company’s stock valued at $681,000 after buying an additional 12,814 shares in the last quarter. Finally, Polar Capital LLP boosted its stake in Methanex Corp. by 82.3% in the second quarter. Polar Capital LLP now owns 981,603 shares of the company’s stock valued at $28,565,000 after buying an additional 443,162 shares in the last quarter. 87.01% of the stock is owned by institutional investors and hedge funds.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, September 14th. This represents a $1.10 annualized dividend and a yield of 3.22%. Methanex Corp.’s dividend payout ratio is 305.56%.
About Methanex Corp.
Methanex Corporation is a 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, and Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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