Research Analysts Issue Forecasts for Methanex Co.’s FY2017 Earnings (MEOH)

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Stock analysts at Jefferies Group upped their FY2017 earnings per share estimates for shares of Methanex in a research report issued to clients and investors on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will earn $3.88 per share for the year, up from their prior estimate of $3.78. Jefferies Group currently has a “Buy” rating and a $72.00 target price on the stock. Jefferies Group also issued estimates for Methanex’s Q4 2017 earnings at $1.19 EPS and Q4 2018 earnings at $1.01 EPS.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, October 25th. The specialty chemicals company reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Methanex had a return on equity of 16.02% and a net margin of 9.81%. The company had revenue of $720.00 million during the quarter, compared to the consensus estimate of $614.19 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. Methanex’s quarterly revenue was up 41.2% compared to the same quarter last year.

MEOH has been the subject of a number of other reports. Scotiabank set a $53.50 target price on Methanex and gave the company a “sector perform” rating in a research note on Thursday, October 26th. TD Securities lifted their target price on Methanex to $71.00 and gave the company a “buy” rating in a research note on Monday, September 18th. Cowen restated an “outperform” rating and issued a $58.00 target price (up from $55.00) on shares of Methanex in a research note on Monday, October 9th. Raymond James Financial downgraded Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 target price for the company. in a research note on Tuesday, October 31st. Finally, BidaskClub upgraded Methanex from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 22nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $57.67.

Methanex (MEOH) opened at $64.05 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.59 and a debt-to-equity ratio of 0.83. Methanex has a 52 week low of $39.47 and a 52 week high of $64.25. The company has a market capitalization of $5,266.98, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.05 and a beta of 1.82.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in Methanex by 3.9% in the second quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock worth $305,000 after purchasing an additional 259 shares during the period. Ingalls & Snyder LLC lifted its position in Methanex by 0.5% in the third quarter. Ingalls & Snyder LLC now owns 236,686 shares of the specialty chemicals company’s stock worth $11,905,000 after purchasing an additional 1,270 shares during the period. HCR Wealth Advisors lifted its position in Methanex by 8.7% in the third quarter. HCR Wealth Advisors now owns 19,701 shares of the specialty chemicals company’s stock worth $991,000 after purchasing an additional 1,585 shares during the period. Ontario Teachers Pension Plan Board lifted its position in Methanex by 14.4% in the second quarter. Ontario Teachers Pension Plan Board now owns 13,454 shares of the specialty chemicals company’s stock worth $593,000 after purchasing an additional 1,696 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its position in Methanex by 8.9% in the second quarter. Oppenheimer & Co. Inc. now owns 21,450 shares of the specialty chemicals company’s stock worth $945,000 after purchasing an additional 1,750 shares during the period. Hedge funds and other institutional investors own 83.07% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 31st. Stockholders of record on Sunday, December 17th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.87%. Methanex’s dividend payout ratio is presently 39.87%.

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About Methanex

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.

Earnings History and Estimates for Methanex (NASDAQ:MEOH)

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