Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Equities research analysts at Jefferies Group upped their Q1 2018 EPS estimates for Methanex in a research report issued on Wednesday, Zacks Investment Research reports. Jefferies Group analyst L. Alexander now expects that the company will post earnings per share of $2.51 for the quarter, up from their previous forecast of $1.99. Jefferies Group also issued estimates for Methanex’s Q4 2018 earnings at $1.28 EPS and FY2018 earnings at $6.15 EPS.
A number of other equities research analysts also recently weighed in on MX. Royal Bank of Canada upped their price target on shares of Methanex to C$73.00 and gave the company a “sector perform” rating in a report on Friday, October 27th. Raymond James Financial downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and set a C$77.00 price target for the company. in a report on Tuesday, October 31st. TD Securities upped their price target on shares of Methanex to C$85.00 and gave the company a “buy” rating in a report on Tuesday, December 19th. BMO Capital Markets set a C$72.00 price target on shares of Methanex and gave the company an “outperform” rating in a report on Friday, February 2nd. Finally, Sanford C. Bernstein cut their price target on shares of Methanex from C$46.43 to C$41.89 in a report on Monday, January 29th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Methanex has a consensus rating of “Hold” and a consensus target price of C$69.48.
Methanex (TSE:MX) (NASDAQ:MEOH) last posted its quarterly earnings data on Wednesday, January 31st. The company reported C$2.16 earnings per share for the quarter, topping the consensus estimate of C$1.48 by C$0.68. The business had revenue of C$1.09 billion during the quarter. Methanex had a net margin of 5.33% and a return on equity of 8.31%.
The company also recently disclosed a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be paid a dividend of $0.406 per share. The ex-dividend date of this dividend is Thursday, March 15th. This is a positive change from Methanex’s previous quarterly dividend of $0.30. This represents a $1.62 dividend on an annualized basis and a yield of 2.37%. Methanex’s dividend payout ratio is currently 25.27%.
In related news, Director Mike Herz sold 6,000 shares of the stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of C$65.50, for a total value of C$393,000.00. Also, Director John Floren sold 20,000 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of C$72.85, for a total value of C$1,457,000.00. Insiders have sold 35,700 shares of company stock valued at $2,391,155 over the last ninety days.
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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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