Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Analysts at Jefferies Group raised their Q4 2017 EPS estimates for Methanex in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. Jefferies Group analyst L. Alexander now anticipates that the company will post earnings of $1.49 per share for the quarter, up from their previous forecast of $1.40. Jefferies Group also issued estimates for Methanex’s Q4 2018 earnings at $1.26 EPS.
Other analysts also recently issued research reports about the stock. TD Securities raised their price objective on shares of Methanex to C$75.50 and gave the stock a “buy” rating in a research report on Friday, October 27th. Scotiabank reiterated a “sector perform” rating and issued a C$67.00 target price on shares of Methanex in a report on Wednesday, October 18th. BMO Capital Markets reiterated an “outperform” rating and issued a C$57.00 target price on shares of Methanex in a report on Monday, September 18th. Raymond James Financial cut Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 target price on the stock. in a report on Tuesday, October 31st. Finally, Royal Bank of Canada increased their target price on Methanex to C$73.00 and gave the stock a “sector perform” rating in a report on Friday, October 27th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of C$72.00.
Shares of Methanex (TSE:MX) opened at C$76.15 on Thursday. The company has a market cap of $6,430.00, a P/E ratio of 19.73 and a beta of 1.43. Methanex has a 52-week low of C$52.63 and a 52-week high of C$80.61.
In other news, Director John Floren sold 450 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of C$65.32, for a total transaction of C$29,394.00. Also, insider David Valembois sold 1,600 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of C$52.95, for a total value of C$84,720.00. Over the last ninety days, insiders have 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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