Methanex Corp. (NASDAQ:MEOH) – Research analysts at Raymond James Financial reduced their Q4 2016 EPS estimates for Methanex Corp. in a research note issued to investors on Monday. Raymond James Financial analyst S. Hansen now forecasts that the brokerage will earn $0.08 per share for the quarter, down from their previous estimate of $0.10. Raymond James Financial currently has a “Outperform” rating and a $40.00 target price on the stock. Raymond James Financial also issued estimates for Methanex Corp.’s Q2 2017 earnings at $0.14 EPS, FY2017 earnings at $1.51 EPS and FY2018 earnings at $2.28 EPS.
Methanex Corp. (NASDAQ:MEOH) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.34) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.25) by $0.09. The company earned $468 million during the quarter, compared to analyst estimates of $422.82 million. Methanex Corp. had a return on equity of 2.10% and a net margin of 3.22%. Methanex Corp.’s revenue was down 26.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share.
Other equities research analysts have also recently issued reports about the company. Citigroup Inc. restated a “hold” rating and set a $31.00 target price (down from $35.00) on shares of Methanex Corp. in a report on Friday, July 15th. Jefferies Group restated a “buy” rating and set a $41.00 target price on shares of Methanex Corp. in a report on Wednesday, June 15th. Cowen and Company dropped their price objective on Methanex Corp. from $43.00 to $40.00 and set an “outperform” rating for the company in a report on Thursday, August 4th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $48.50 price objective on shares of Methanex Corp. in a report on Monday, June 6th. Finally, CIBC upgraded Methanex Corp. from a “sector perform” rating to an “outperform” rating and set a $37.00 price objective for the company in a report on Tuesday, July 5th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $39.45.
Methanex Corp. (NASDAQ:MEOH) traded down 1.23% during trading on Tuesday, hitting $34.60. The company had a trading volume of 227,435 shares. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 78.46 and a beta of 1.99. The company’s 50 day moving average price is $30.59 and its 200-day moving average price is $30.91. Methanex Corp. has a 1-year low of $22.73 and a 1-year high of $44.95.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Wednesday, September 14th. Methanex Corp.’s dividend payout ratio (DPR) is presently 305.56%.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Methanex Corp. by 19.3% in the second quarter. Legal & General Group Plc now owns 79,903 shares of the company’s stock worth $2,313,000 after buying an additional 12,936 shares during the period. Fiera Capital Corp raised its position in Methanex Corp. by 59.9% in the second quarter. Fiera Capital Corp now owns 1,617,442 shares of the company’s stock worth $46,844,000 after buying an additional 605,680 shares during the period. AHL Partners LLP bought a new position in Methanex Corp. during the second quarter worth $1,148,000. Guggenheim Capital LLC raised its position in Methanex Corp. by 120.9% in the second quarter. Guggenheim Capital LLC now owns 23,417 shares of the company’s stock worth $681,000 after buying an additional 12,814 shares during the period. Finally, Polar Capital LLP raised its position in Methanex Corp. by 82.3% in the second quarter. Polar Capital LLP now owns 981,603 shares of the company’s stock worth $28,565,000 after buying an additional 443,162 shares during the period. 87.01% of the stock is owned by institutional investors.
Methanex Corp. Company Profile
Methanex Corporation is a 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, and 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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