Market Rating: Cowen Reaffirms a Outperform Rating on Methanex (NASDAQ:MEOH) and $48.0 Target

November 30, 2016 - By Hazel Jackson

Market Rating: Cowen Reaffirms a Outperform Rating on Methanex (NASDAQ:MEOH) and $48.0 Target

Methanex (NASDAQ:MEOH) Rating

Methanex (NASDAQ:MEOH) had its stock rating noted as Outperform by analysts at Cowen. Cowen currently has a $48.0 target price on the $3.73 billion market cap company or 18.08% upside potential. This was revealed to investors in an analyst report on 30 November.

Methanex Corporation (USA) (NASDAQ:MEOH) Ratings Coverage

Out of 11 analysts covering Methanex Corporation (NASDAQ:MEOH), 6 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 55% are positive. $60 is the highest target while $27 is the lowest. The $39.40 average target is -3.08% below today’s ($40.65) stock price. Methanex Corporation has been the topic of 33 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Scotia Capital initiated the shares of MEOH in a report on Monday, September 21 with “Sell” rating. UBS downgraded the stock to “Sell” rating in Monday, October 31 report. The firm earned “Outperform” rating on Wednesday, August 19 by Raymond James. The firm has “Sector Perform” rating by IBC given on Monday, October 24. Monness Crespi & Hardt downgraded the stock to “Neutral” rating in Tuesday, January 19 report. The rating was maintained by Jefferies with “Buy” on Wednesday, August 5. The stock of Methanex Corporation (USA) (NASDAQ:MEOH) earned “Buy” rating by TD Securities on Friday, July 31. The stock has “Outperform” rating given by Raymond James on Monday, October 3. The rating was maintained by Jefferies with “Buy” on Friday, August 7. On Wednesday, September 9 the stock rating was maintained by Cowen & Co with “Outperform”.

The stock decreased 0.61% or $0.25 during the last trading session, hitting $40.65. Methanex Corporation (USA) (NASDAQ:MEOH) has risen 12.45% since April 27, 2016 and is uptrending. It has outperformed by 7.22% the S&P500.

Analysts await Methanex Corporation (USA) (NASDAQ:MEOH) to report earnings on January, 25. They expect $-0.05 earnings per share, down 145.45% or $0.16 from last year’s $0.11 per share. After $-0.12 actual earnings per share reported by Methanex Corporation (USA) for the previous quarter, Wall Street now forecasts -58.33% EPS growth.

Methanex Corporation is a producer and supplier of methanol to a range of international markets. The company has a market cap of $3.73 billion. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. It currently has negative earnings. The Company’s global activities are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

According to Zacks Investment Research, “Methanex Corp. is a Vancouver based company engaged in the worldwide production and marketing of methanol. Methanol, made from natural gas, is a basic chemical building block used to manufacture products such as formaldehyde, MTBE, acetic acid and others. The Company operates production facilities in Canada, the United States, New Zealand and Chile. The Company also markets additional methanol from plants in the US, Trinidad and Europe.”

MEOH Company Profile

Methanex Corporation, incorporated on March 5, 1992, is a producer and supplier of methanol to a range of international markets in North America, Asia Pacific, Europe and South America. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. The Company’s global activities are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers. The Company’s global supply chain and distribution network provides its clients with supply of methanol. The Company’s subsidiary, Waterfront Shipping Company Limited, operates its fleet, which is made up of approximately 20 vessels ranging from 3,000 to 50,000 deadweight tons of capacity. It has over three production facilities in New Zealand that supply methanol primarily to clients in Asia Pacific. The Firm operates over two plants in Trinidad, Titan and Atlas, which supply methanol to markets in North America, Europe, Asia Pacific and South America.

Another recent and important Methanex Corporation (USA) (NASDAQ:MEOH) news was published by Fool.ca which published an article titled: “Methanex Corporation Is Down 30% in 30 Days: Is This the Bottom?” on February 02, 2016.

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