November 30, 2016 - By Richard Conner
In a research note issued to investors and clients on today, Cowen kept their “Outperform” rating on Methanex (NASDAQ:MEOH)‘s stock. The target price per share suggests a potential upside of 18.08% from firm’s stock close price.
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. On Monday, July 27 the stock rating was upgraded by Howard Weil to “Outperform”. The firm has “Strong Buy” rating by Raymond James given on Tuesday, May 17. Monness Crespi & Hardt downgraded Methanex Corporation (USA) (NASDAQ:MEOH) on Tuesday, January 19 to “Neutral” rating. The rating was downgraded by UBS on Monday, October 31 to “Sell”. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, July 31. Cowen & Co maintained Methanex Corporation (USA) (NASDAQ:MEOH) rating on Wednesday, September 9. Cowen & Co has “Outperform” rating and $52 price target. TD Securities upgraded the stock to “Buy” rating in Friday, July 29 report. The rating was downgraded by Raymond James to “Outperform” on Monday, October 3. The firm earned “Sell” rating on Monday, September 21 by Scotia Capital. The firm has “Sector Perform” rating given on Monday, October 24 by IBC.
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 EPS, down 145.45% or $0.16 from last year’s $0.11 per share. After $-0.12 actual EPS 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.”
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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