Methanex Corporation (USA) (MEOH) is Upgraded by Raymond James to Strong Buy

Methanex Corporation (USA) (MEOH) was Upgraded by Raymond James to ” Strong Buy”. Earlier the firm had a rating of “Outperform ” on the company shares. Raymond James advised their investors in a research report released on May 17, 2016.

Many Wall Street Analysts have commented on Methanex Corporation (USA). Methanex Corporation (USA) was Downgraded by TD Securities to ” Hold” on Mar 24, 2016. Methanex Corporation (USA) was Downgraded by Citigroup to ” Neutral” on Mar 14, 2016. Company shares were Upgraded by Raymond James on Mar 2, 2016 to ” Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $32 .

On the company’s financial health, Methanex Corporation (USA) reported $0.26 EPS for the quarter, missing the analyst consensus estimate by $ -0.12 based on the information available during the earnings call on Oct 28, 2015. Analyst had a consensus of $0.38. The company had revenue of $527.00 million for the quarter, compared to analysts expectations of $608.83 million. The company’s revenue was down -27.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.

Methanex Corporation (USA) opened for trading at $28.93 and hit $29.73 on the upside on Monday, eventually ending the session at $29.55, with a gain of 2.82% or 0.81 points. The heightened volatility saw the trading volume jump to 6,57,911 shares. Company has a market cap of $2,653 M.

Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific North America Europe and South America. The Company operates three production facilities in New Zealand which supply methanol primarily to customers in Asia Pacific. Its two plants in Trinidad Titan and Atlas supply methanol markets in North America Europe Asia Pacific and South America. Its Geismar 1 facility in Louisiana supplies to customers in the United States. The Company through a joint venture facility in Egypt located on the Mediterranean Sea supplies methanol markets in Europe and Asia Pacific. Its plant in Medicine Hat Alberta supplies methanol to customers in North America. The Punta Arenas production complex in southern Chile supplies to customers in South America.

Methanex Corporation (USA)

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