Jefferies Group Equities Analysts Increase Earnings Estimates for Methanex Co. (MX)
Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Stock analysts at Jefferies Group boosted their Q4 2017 earnings per share (EPS) estimates for shares of Methanex in a report released on Wednesday. Jefferies Group analyst L. Alexander now expects that the company will post earnings per share of $1.49 for the quarter, up from their prior forecast of $1.40. Jefferies Group also issued estimates for Methanex’s Q4 2018 earnings at $1.26 EPS.
Other equities analysts have also recently issued research reports about the company. TD Securities boosted their price objective on Methanex to C$85.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. Scotiabank reissued a “sector perform” rating and issued a C$68.00 price objective on shares of Methanex in a report on Thursday, October 26th. Royal Bank of Canada boosted their price objective on Methanex to C$73.00 and gave the company a “sector perform” rating in a report on Friday, October 27th. Raymond James Financial cut Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price objective for the company. in a report on Tuesday, October 31st. Finally, BMO Capital Markets reissued an “outperform” rating and issued a C$57.00 price objective on shares of Methanex in a report on Monday, September 18th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of C$72.00.
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 1,600 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of C$52.95, for a total value of C$84,720.00. In the last three months, insiders sold 29,550 shares of company stock valued at $2,039,009.
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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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