Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Analysts at Jefferies Group lifted their Q2 2018 earnings per share (EPS) estimates for shares of Methanex in a report issued on Wednesday. Jefferies Group analyst L. Alexander now anticipates that the specialty chemicals company will earn $1.54 per share for the quarter, up from their previous estimate of $1.48. Jefferies Group currently has a “Buy” rating and a $72.00 target price on the stock. Jefferies Group also issued estimates for Methanex’s FY2018 earnings at $5.40 EPS.
Other research analysts have also recently issued reports about the company. BidaskClub cut Methanex from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, January 9th. TD Securities raised their target price on Methanex from $59.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. ValuEngine cut Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th. BMO Capital Markets reaffirmed a “buy” rating and issued a $57.00 target price on shares of Methanex in a research report on Friday, November 24th. Finally, Alembic Global Advisors reaffirmed a “buy” rating on shares of Methanex in a research report on Monday, January 8th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $59.00.
Methanex (MEOH) opened at $58.70 on Friday. The company has a market capitalization of $5,077.25, a price-to-earnings ratio of 12.87, a P/E/G ratio of 0.66 and a beta of 1.79. Methanex has a 12-month low of $39.47 and a 12-month high of $64.60. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.25.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, topping the consensus estimate of $1.19 by $0.51. The firm had revenue of $861.00 million during the quarter, compared to analysts’ expectations of $796.57 million. Methanex had a return on equity of 22.72% and a net margin of 10.34%. Methanex’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period last year, the business earned $0.46 earnings per share.
Several hedge funds and other institutional investors have recently modified their holdings of MEOH. Polaris Capital Management LLC lifted its holdings in shares of Methanex by 30,312.3% during the fourth quarter. Polaris Capital Management LLC now owns 699,482 shares of the specialty chemicals company’s stock valued at $46,152,000 after acquiring an additional 697,182 shares during the period. DSAM Partners London Ltd bought a new position in shares of Methanex in the fourth quarter valued at about $15,811,000. Mackenzie Financial Corp raised its holdings in shares of Methanex by 109.6% in the fourth quarter. Mackenzie Financial Corp now owns 485,909 shares of the specialty chemicals company’s stock valued at $29,422,000 after buying an additional 254,121 shares during the last quarter. Boston Advisors LLC bought a new position in shares of Methanex in the fourth quarter valued at about $13,386,000. Finally, AGF Investments Inc. raised its holdings in shares of Methanex by 21.9% in the third quarter. AGF Investments Inc. now owns 499,132 shares of the specialty chemicals company’s stock valued at $25,082,000 after buying an additional 89,812 shares during the last quarter. 80.18% of the stock is owned by institutional investors.
Methanex declared that its board has initiated a share buyback plan on Monday, March 5th that allows the company to repurchase 6,590,000 shares. This repurchase authorization allows the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be issued a dividend of $0.33 per share. The ex-dividend date is Thursday, March 15th. This is a boost from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.25%. Methanex’s dividend payout ratio (DPR) is presently 37.29%.
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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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