Methanex Corporation (USA) (MEOH) is Downgraded by Raymond James to Outperform

Methanex Corporation (USA) (MEOH) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on Oct 3, 2016.

Many Wall Street Analysts have commented on Methanex Corporation (USA). Shares were Reiterated by Cowen on Aug 4, 2016 to “Outperform” and Lowered the Price Target to $ 40 from a previous price target of $43 .

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 -0.08 points or -0.22% at $35.68 with 11,69,576 shares getting traded on Friday. Post opening the session at $36.15, the shares hit an intraday low of $35.63 and an intraday high of $36.54 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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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