Methanex Co. (MX) to Post Q4 2017 Earnings of $1.40 Per Share, Jefferies Group Forecasts
Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Analysts at Jefferies Group boosted their Q4 2017 earnings per share (EPS) estimates for Methanex in a report issued on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the company will post earnings of $1.40 per share for the quarter, up from their previous forecast of $1.08. Jefferies Group also issued estimates for Methanex’s Q1 2018 earnings at $0.87 EPS, Q2 2018 earnings at $0.86 EPS, Q3 2018 earnings at $1.01 EPS, Q4 2018 earnings at $1.36 EPS, FY2018 earnings at $4.10 EPS and FY2019 earnings at $4.35 EPS.
Other equities analysts have also issued research reports about the company. TD Securities upped their price target on Methanex to C$75.50 and gave the company a “buy” rating in a research note on Friday, October 27th. Scotiabank reaffirmed a “sector perform” rating and issued a C$67.00 price target on shares of Methanex in a research note on Wednesday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$57.00 price target on shares of Methanex in a research note on Monday, September 18th. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price target on the stock. in a research note on Tuesday, October 31st. Finally, Royal Bank Of Canada upped their price target on Methanex to C$73.00 and gave the company a “sector perform” rating in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of C$70.10.
In related news, Director Dean Richardson sold 1,500 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of C$49.93, for a total value of C$74,895.00. Also, insider David Valembois sold 2,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of C$51.90, for a total value of C$103,800.00. Over the last ninety days, insiders have sold 11,650 shares of company stock valued at $690,794.
Methanex 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.
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