Citigroup Maintains Methanex Corporation (USA) to Neutral with Price Target $30.00

Brokerage firm Citigroup Maintains its rating on Methanex Corporation (USA)(NASDAQ:MEOH). In a research note issued to the investors, the brokerage major Lowers the price-target to $30.00 per share. The shares have been rated Neutral. The rating by Citigroup was issued on Aug 1, 2016.

In a different note, On Jul 29, 2016, TD Securities said it Upgrades its rating on Methanex Corporation (USA). The shares have been rated ‘Buy’ by the firm. On Jul 15, 2016, Citigroup said it Maintains its rating on Methanex Corporation (USA). In the research note, the firm Lowers the price-target to $35.00 per share. The shares have been rated ‘Neutral’ by the firm. On Jul 5, 2016, CIBC said it Upgrades its rating on Methanex Corporation (USA). The shares have been rated ‘Outperform’ by the firm. On May 17, 2016, Raymond James said it Upgrades its rating on Methanex Corporation (USA). The shares have been rated ‘Strong Buy’ by the firm.

Methanex Corporation (USA) (MEOH) made into the market gainers list on Mondays trading session with the shares advancing 2.38% or 0.68 points. Due to strong positive momentum, the stock ended at $29.29, which is also near the day’s high of $29.57. The stock began the session at $28.8 and the volume stood at 4,54,813 shares. The 52-week high of the shares is $47.15 and the 52 week low is $22.73. The company has a current market capitalization of $2,630 M and it has 8,97,96,238 shares in outstanding.

Methanex Corporation (USA) has also declared a cash dividend of $0.2750 on Jul 14, 2016. The shares will quote ex-dividend on Sep 14, 2016 and the record date has been fixed on Sep 16, 2016. The dividend payable date has been fixed on Sep 30, 2016.

Methanex Corporation (USA)(MEOH) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $496.00M. Analysts had an estimated revenue of $422.82M. Earnings per share were $-0.34. Analysts had estimated an EPS of $-0.25.

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.

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