Methanex Co. (TSE:MX – Get Rating) (NASDAQ:MEOH) – Equities researchers at Jefferies Financial Group lowered their Q3 2022 EPS estimates for Methanex in a report issued on Tuesday, June 21st. Jefferies Financial Group analyst L. Alexander now expects that the company will post earnings of $3.04 per share for the quarter, down from their prior estimate of $3.14. The consensus estimate for Methanex’s current full-year earnings is $5.45 per share. Jefferies Financial Group also issued estimates for Methanex’s FY2023 earnings at $6.58 EPS, FY2024 earnings at ($1.68) EPS and FY2025 earnings at $12.90 EPS.
Several other research analysts also recently issued reports on MX. Alembic Global Advisors reiterated a “hold” rating and issued a C$40.00 target price on shares of Methanex in a research note on Monday, May 9th. BMO Capital Markets reaffirmed a “buy” rating and set a C$65.00 target price on shares of Methanex in a report on Friday, April 29th. Scotiabank cut shares of Methanex to a “hold” rating and set a C$50.00 target price for the company. in a report on Tuesday, May 31st. Finally, Piper Sandler cut shares of Methanex to a “sell” rating and set a C$48.00 price objective for the company. in a research note on Tuesday, May 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Methanex currently has a consensus rating of “Hold” and an average target price of C$55.54.
Methanex (TSE:MX – Get Rating) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, April 27th. The company reported C$2.74 earnings per share (EPS) for the quarter, beating the consensus estimate of C$2.63 by C$0.11. The company had revenue of C$1.49 billion for the quarter, compared to analysts’ expectations of C$1.49 billion.
In other news, Director Nojan Abrary purchased 1,301 shares of the stock in a transaction dated Monday, May 9th. The shares were purchased at an average price of C$63.14 per share, with a total value of C$82,146.44. Following the transaction, the director now owns 16,966 shares in the company, valued at approximately C$1,071,250.21. Also, Director Vanessa James sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 31st. The shares were sold at an average price of C$68.15, for a total transaction of C$511,125.00. Following the transaction, the director now directly owns 35,444 shares in the company, valued at approximately C$2,415,508.60. Over the last quarter, insiders purchased 1,601 shares of company stock valued at $99,848.
Methanex Company Profile (Get Rating)
Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities. The company owns and manages a fleet of approximately 30 ocean-going vessels.
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