Methanex (MEOH) Approves 9% Dividend Increase
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April 27, 2017 10:26 AM EDT
UBS raised its price target on Methanex (NASDAQ: MEOH) to $40.00 (from $39.00) while maintaining a Sell rating, following the company's first quarter results.
Analyst John Roberts notes management faces energy price volaility and Asian supply/demand volaility resulting in price variations for Methanol, as the... More
April 26, 2017 5:48 PM EDT
Methanex (NASDAQ: MEOH) reported Q1 EPS of $1.56, in-line with the analyst estimate of $1.56. Revenue for the quarter came in at $810 million versus the consensus estimate of $817.42 million.
John Floren, President and CEO of Methanex, commented, "In what is proving to be a volatile methanol pricing environment, our average realized methanol price increased $87 per tonne in the quarter to $365 per tonne, which compares to $278 per tonne achieved in the fourth quarter of 2016. We achieved record sales volume for the fourth consecutive... More
