Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Investment analysts at Jefferies Group boosted their FY2018 EPS estimates for shares of Methanex in a research note issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst L. Alexander now expects that the company will earn $6.58 per share for the year, up from their previous forecast of $6.15. Jefferies Group also issued estimates for Methanex’s Q4 2018 earnings at $1.47 EPS.
A number of other analysts have also commented on MX. Scotiabank reiterated a “sector perform” rating and issued a C$67.00 price objective on shares of Methanex in a research report on Wednesday, October 18th. Royal Bank of Canada lifted their price objective on Methanex to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, October 27th. TD Securities lifted their price objective on Methanex to C$75.50 and gave the stock a “buy” rating in a research report on Friday, October 27th. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price objective for the company. in a research report on Tuesday, October 31st. Finally, Sanford C. Bernstein lowered their price objective on Methanex from C$46.43 to C$41.89 in a research report on Monday, January 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Methanex presently has a consensus rating of “Hold” and an average price target of C$69.48.
Shares of Methanex (MX) traded down C$0.23 during trading hours on Wednesday, hitting C$71.10. The stock had a trading volume of 49,502 shares, compared to its average volume of 341,216. The firm has a market capitalization of $5,910.00, a price-to-earnings ratio of 15.74 and a beta of 1.32. Methanex has a 52 week low of C$52.63 and a 52 week high of C$80.61.
Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Wednesday, January 31st. The company reported C$2.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of C$1.48 by C$0.68. Methanex had a return on equity of 8.31% and a net margin of 5.33%. The company had revenue of C$1.09 billion during the quarter.
In other news, Director John Floren sold 20,000 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of C$72.85, for a total transaction of C$1,457,000.00. Also, insider David Valembois sold 1,600 shares of the business’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. Insiders have sold a total of 35,700 shares of company stock valued at $2,391,155 over the last 90 days.
The business also recently announced a quarterly dividend, which will be paid on Saturday, March 31st. Stockholders of record on Saturday, March 17th will be given a dividend of $0.406 per share. This is a positive change from Methanex’s previous quarterly dividend of $0.30. This represents a $1.62 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Thursday, March 15th. Methanex’s payout ratio is presently 25.33%.
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Methanex Company Profile
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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