Methanex Corporation (USA) (MEOH) is Reiterated by Cowen to Outperform, Lowers Price Target to $ 40

Methanex Corporation (USA) (MEOH) was Reiterated by Cowen to “Outperform” while Lowering the Price Target of the company shares to $ 40 from a previous price target of $43 . Cowen advised their investors in a research report released on Aug 4, 2016.

Many Wall Street Analysts have commented on Methanex Corporation (USA). Methanex Corporation (USA) was Upgraded by CIBC to ” Sector Outperform” on Jul 5, 2016. Methanex Corporation (USA) was Upgraded by Raymond James to ” Strong Buy” on May 17, 2016.

On the company’s financial health, Methanex Corporation (USA) reported $-0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.27. The company had revenue of $468.00 million for the quarter, compared to analysts expectations of $418.79 million. The company’s revenue was down -26.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.56 EPS.

Methanex Corporation (USA) closed down -0.45 points or -1.64% at $26.99 with 5,94,603 shares getting traded on Tusday. Post opening the session at $27.59, the shares hit an intraday low of $26.83 and an intraday high of $27.85 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

Investors should note that on Jul 14, 2016, Methanex Corporation (USA) announced a cash dividend of $0.2750. The company’s management has announced Sep 14, 2016 as the ex-dividend date and fixed the record date on Sep 16, 2016. The payable date has been fixed on Sep 30, 2016.

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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