Methanex Corp. (MEOH) to Post FY2016 Earnings of ($0.56) Per Share, Raymond James Financial Forecasts
Methanex Corp. (NASDAQ:MEOH) – Research analysts at Raymond James Financial raised their FY2016 earnings per share estimates for Methanex Corp. in a research report issued on Thursday. Raymond James Financial analyst S. Hansen now anticipates that the firm will post earnings of ($0.56) per share for the year, up from their previous estimate of ($0.59). 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 Q3 2017 earnings at $0.31 EPS.
A number of other analysts also recently commented on the stock. Jefferies Group restated a “buy” rating and set a $41.00 price target on shares of Methanex Corp. in a research report on Thursday, October 20th. TD Securities upgraded shares of Methanex Corp. from a “hold” rating to a “buy” rating in a research report on Friday, July 29th. Zacks Investment Research upgraded shares of Methanex Corp. from a “strong sell” rating to a “hold” rating in a research report on Friday, October 21st. BMO Capital Markets boosted their price target on shares of Methanex Corp. from $36.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, September 29th. Finally, Scotiabank restated an “outperform” rating and set a $35.00 price target on shares of Methanex Corp. in a research report on Wednesday, August 31st. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Methanex Corp. has a consensus rating of “Hold” and a consensus target price of $40.70.
Shares of Methanex Corp. (NASDAQ:MEOH) opened at 37.65 on Monday. The firm’s market cap is $3.38 billion. Methanex Corp. has a 12 month low of $22.73 and a 12 month high of $41.49. The company’s 50-day moving average is $36.40 and its 200-day moving average is $31.72.
Methanex Corp. (NASDAQ:MEOH) last released its quarterly earnings results on Wednesday, October 26th. The company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.20. The business had revenue of $2.48 million for the quarter, compared to analyst estimates of $2.09 million. Methanex Corp. had a negative net margin of 1.45% and a negative return on equity of 2.57%. The company’s quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.26 earnings per share.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in Methanex Corp. by 2.5% in the first quarter. BlackRock Group LTD now owns 70,300 shares of the company’s stock worth $2,258,000 after buying an additional 1,700 shares in the last quarter. Legal & General Group Plc raised its stake in Methanex Corp. by 21.7% in the first quarter. Legal & General Group Plc now owns 66,967 shares of the company’s stock worth $2,161,000 after buying an additional 11,924 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Methanex Corp. by 68.1% in the first quarter. Envestnet Asset Management Inc. now owns 35,483 shares of the company’s stock worth $1,140,000 after buying an additional 14,371 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in Methanex Corp. during the first quarter worth about $2,470,000. Finally, Barclays PLC raised its stake in Methanex Corp. by 73.3% in the first quarter. Barclays PLC now owns 62,863 shares of the company’s stock worth $2,011,000 after buying an additional 26,581 shares in the last quarter. Institutional investors and hedge funds own 87.50% of the company’s stock.
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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