Jefferies Group Weighs in on Methanex Co.’s FY2017 Earnings (MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Investment analysts at Jefferies Group lifted their FY2017 earnings estimates for Methanex in a report issued on Wednesday. Jefferies Group analyst L. Alexander now forecasts that the company will post earnings of $4.85 per share for the year, up from their previous estimate of $4.84. Jefferies Group also issued estimates for Methanex’s Q1 2018 earnings at $1.99 EPS, Q2 2018 earnings at $1.34 EPS, Q3 2018 earnings at $0.91 EPS, FY2018 earnings at $5.50 EPS, FY2019 earnings at $4.25 EPS and FY2020 earnings at $2.56 EPS.

MX has been the topic of several other research reports. Royal Bank of Canada boosted their price target on shares of Methanex to C$73.00 and gave the stock a “sector perform” rating in a research report on Friday, October 27th. Raymond James Financial cut shares of Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price target on the stock. in a research report on Tuesday, October 31st. TD Securities boosted their price target on shares of Methanex to C$85.00 and gave the stock a “buy” rating in a research report on Tuesday, December 19th. BMO Capital Markets restated an “outperform” rating and issued a C$57.00 price target on shares of Methanex in a research report on Monday, September 18th. Finally, Scotiabank restated a “sector perform” rating and issued a C$68.00 price target on shares of Methanex in a research report on Thursday, October 26th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of C$72.00.

Shares of Methanex (TSE:MX) opened at C$78.42 on Friday. Methanex has a 1 year low of C$52.63 and a 1 year high of C$80.61. The firm has a market cap of $6,570.00, a price-to-earnings ratio of 20.42 and a beta of 1.43.

In other Methanex news, insider David Valembois sold 1,600 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of C$52.95, for a total transaction of C$84,720.00. Also, Director Dean Richardson sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of C$49.93, for a total transaction of C$74,895.00. Insiders have sold 29,550 shares of company stock worth $2,039,009 in the last quarter.

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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 tankers.

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