FY2017 EPS Estimates for Methanex Co. (MX) Boosted by Jefferies Group
Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Equities researchers at Jefferies Group raised their FY2017 earnings per share (EPS) estimates for Methanex in a research report issued to clients and investors on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the company will post earnings of $4.85 per share for the year, up from their prior forecast of $4.84. Jefferies Group also issued estimates for Methanex’s Q1 2018 earnings at $1.99 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $0.91 EPS, FY2018 earnings at $5.50 EPS, FY2019 earnings at $4.25 EPS and FY2020 earnings at $2.56 EPS.
Other analysts have also issued research reports about the stock. Scotiabank reaffirmed a “sector perform” rating and set a C$68.00 target price on shares of Methanex in a report on Thursday, October 26th. TD Securities lifted their price target on shares of Methanex to C$85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. Royal Bank of Canada boosted their price objective on shares of Methanex to C$73.00 and gave the company a “sector perform” rating in a research report on Friday, October 27th. BMO Capital Markets reaffirmed an “outperform” rating and issued a C$57.00 price objective on shares of Methanex in a research report on Monday, September 18th. Finally, Raymond James Financial cut shares of Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price objective on the stock. in a research report on Tuesday, October 31st. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of C$72.00.
In other Methanex news, Director John Floren sold 450 shares of Methanex stock in a transaction on Monday, October 30th. The shares were sold at an average price of C$65.32, for a total value of C$29,394.00. Also, insider David Valembois sold 1,600 shares of Methanex stock in a transaction on Friday, November 24th. The shares were sold at an average price of C$52.95, for a total transaction of C$84,720.00. Insiders sold a total of 29,550 shares of company stock worth $2,039,009 over the last quarter.
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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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