FY2019 Earnings Forecast for Methanex Co. Issued By Jefferies Financial Group (TSE:MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Investment analysts at Jefferies Financial Group lowered their FY2019 earnings per share (EPS) estimates for Methanex in a note issued to investors on Wednesday, October 23rd. Jefferies Financial Group analyst L. Alexander now expects that the company will post earnings per share of $1.46 for the year, down from their prior estimate of $1.54. Jefferies Financial Group also issued estimates for Methanex’s Q4 2019 earnings at $0.48 EPS, Q1 2020 earnings at $1.55 EPS, Q2 2020 earnings at $0.96 EPS, Q3 2020 earnings at $1.10 EPS, Q4 2020 earnings at $1.57 EPS, FY2020 earnings at $3.86 EPS and FY2021 earnings at $3.60 EPS.

Other research analysts have also issued research reports about the stock. BMO Capital Markets dropped their price objective on shares of Methanex from C$70.00 to C$65.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Tudor Pickering & Holt reiterated a “hold” rating on shares of Methanex in a report on Wednesday, October 9th.

Shares of TSE MX opened at C$50.75 on Monday. The company has a 50 day simple moving average of C$47.24 and a 200 day simple moving average of C$55.31. The firm has a market cap of $3.54 billion and a PE ratio of 10.89. Methanex has a 1 year low of C$40.11 and a 1 year high of C$90.30. The company has a debt-to-equity ratio of 119.50, a current ratio of 1.04 and a quick ratio of 0.65.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its quarterly earnings data on Wednesday, July 31st. The company reported C$0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$0.65 by C($0.20). The company had revenue of C$982.35 million for the quarter, compared to analyst estimates of C$973.33 million.

In other news, Director John Floren bought 20,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was acquired at an average price of C$44.00 per share, with a total value of C$880,000.00. Following the transaction, the director now owns 79,733 shares of the company’s stock, valued at approximately C$3,508,252. Also, Director Mark Allard bought 2,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of C$43.65 per share, with a total value of C$87,300.00. Following the transaction, the director now directly owns 9,081 shares in the company, valued at approximately C$396,385.65.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Earnings History and Estimates for Methanex (TSE:MX)

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