Jefferies Group Equities Analysts Raise Earnings Estimates for Methanex Co. (MX)
Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Jefferies Group boosted their Q2 2017 earnings per share estimates for shares of Methanex in a report released on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the company will post earnings of $1.44 per share for the quarter, up from their previous forecast of $1.13. Jefferies Group also issued estimates for Methanex’s Q3 2017 earnings at $0.59 EPS, Q1 2018 earnings at $1.20 EPS, Q2 2018 earnings at $1.52 EPS, Q3 2018 earnings at $1.23 EPS and FY2018 earnings at $6.20 EPS.
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A number of other equities analysts also recently weighed in on the stock. Scotiabank restated a “sector perform” rating and set a C$51.00 target price on shares of Methanex in a report on Wednesday, March 15th. Royal Bank Of Canada lowered their target price on shares of Methanex to C$73.50 and set a “sector perform” rating on the stock in a report on Friday, April 28th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Methanex presently has an average rating of “Hold” and an average price target of C$55.10.
Shares of Methanex (TSE:MX) opened at 53.43 on Thursday. The company has a 50-day moving average of $57.25 and a 200-day moving average of $61.22. Methanex has a 12 month low of $35.01 and a 12 month high of $69.88. The firm has a market cap of $4.72 billion and a P/E ratio of 33.71.
In related news, Director Douglas James Arnell acquired 500 shares of the firm’s stock in a transaction on Thursday, May 4th. The shares were purchased at an average cost of C$58.24 per share, for a total transaction of C$29,120.00. Also, Director Mohamed Shindy acquired 1,500 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average price of C$43.54 per share, for a total transaction of C$65,310.00. Over the last quarter, insiders acquired 2,030 shares of company stock worth $96,218.
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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