Brokers Offer Predictions for Methanex Co.’s Q2 2017 Earnings (MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Analysts at Jefferies Group dropped their Q2 2017 earnings per share estimates for Methanex in a research note issued to investors on Tuesday. Jefferies Group analyst L. Alexander now anticipates that the company will post earnings of $1.13 per share for the quarter, down from their previous estimate of $1.23. Jefferies Group also issued estimates for Methanex’s Q3 2017 earnings at $1.11 EPS, Q3 2018 earnings at $1.61 EPS, FY2018 earnings at $7.04 EPS, FY2019 earnings at $5.49 EPS and FY2020 earnings at $2.95 EPS.

Several other equities analysts have also commented on the company. Scotiabank restated a “sector perform” rating and set a C$51.00 price target on shares of Methanex in a research note on Wednesday, March 15th. Royal Bank of Canada cut their price target on Methanex to C$73.50 and set a “sector perform” rating on the stock in a research note on Friday, April 28th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Methanex has a consensus rating of “Hold” and a consensus price target of C$55.10.

Earnings History and Estimates for Methanex (TSE:MX)

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Shares of Methanex (MX) opened at 57.19 on Wednesday. Methanex has a 52-week low of $35.01 and a 52-week high of $69.88. The stock has a 50 day moving average of $60.04 and a 200-day moving average of $61.06. The stock has a market capitalization of $5.05 billion and a P/E ratio of 36.08.

In other news, Director Douglas James Arnell purchased 500 shares of the business’s stock in a transaction dated Thursday, May 4th. The shares were purchased at an average price of C$58.24 per share, for a total transaction of C$29,120.00. Also, Director Mohamed Shindy purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average price of C$43.54 per share, for a total transaction of C$65,310.00. In the last 90 days, insiders have bought 2,030 shares of company stock worth $96,218.

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 TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “TSX:MX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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