Methanex Co. to Post Q3 2017 Earnings of $0.50 Per Share, Jefferies Group Forecasts (MX)
Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Jefferies Group boosted their Q3 2017 earnings per share (EPS) estimates for Methanex in a report issued on Tuesday. Jefferies Group analyst L. Alexander now expects that the company will post earnings per share of $0.50 for the quarter, up from their prior estimate of $0.49. Jefferies Group also issued estimates for Methanex’s Q4 2017 earnings at $0.22 EPS.
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Several other brokerages also recently issued reports on MX. Scotiabank reiterated a “sector perform” rating and issued a C$69.00 price target on shares of Methanex in a report on Tuesday, July 4th. BMO Capital Markets reiterated an “outperform” rating and issued a C$57.00 price target on shares of Methanex in a report on Thursday, July 6th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of C$59.50.
Shares of Methanex (MX) opened at 64.24 on Thursday. Methanex has a one year low of $38.09 and a one year high of $69.88. The firm’s 50-day moving average price is $58.28 and its 200-day moving average price is $59.24. The stock has a market capitalization of $5.53 billion and a P/E ratio of 25.00.
The company also recently declared a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Saturday, September 16th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.87%. This is an increase from Methanex’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Thursday, September 14th.
In other Methanex news, insider David Valembois sold 2,000 shares of the firm’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. Also, insider Simon Christopher Maddren sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of C$56.15, for a total transaction of C$280,750.00. Insiders sold 7,400 shares of company stock valued at $402,855 over the last quarter.
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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