Methanex Corporation (USA) Unusual Bullish Options Activity Means Profits for Traders

 Methanex Corporation (USA) Unusual Bullish Options Activity Means Profits for Traders

In today’s session Methanex Corporation (USA) (MEOH) registered an unusually high (380) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious MEOH increase. With 380 contracts traded and 4594 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: MEOH161118C00037500 closed last at: $1.7 or 9.7% up. About 60,407 shares traded hands. Methanex Corporation (USA) (NASDAQ:MEOH) has risen 8.53% since March 10, 2016 and is uptrending. It has outperformed by 1.01% the S&P500.

Analysts await Methanex Corporation (USA) (NASDAQ:MEOH) to report earnings on October, 26. They expect $-0.18 EPS, down 133.33% or $0.72 from last year’s $0.54 per share. After $-0.26 actual EPS reported by Methanex Corporation (USA) for the previous quarter, Wall Street now forecasts -30.77% EPS growth.

Methanex Corporation (USA) (NASDAQ:MEOH) Ratings Coverage

Out of 10 analysts covering Methanex Corporation (NASDAQ:MEOH), 7 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 70% are positive. Methanex Corporation has been the topic of 31 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating by TD Securities given on Thursday, March 24. The rating was upgraded by Raymond James on Tuesday, May 17 to “Strong Buy”. The stock has “Outperform” rating given by Cowen & Co on Wednesday, September 9. As per Monday, July 27, the company rating was upgraded by Howard Weil. As per Monday, September 21, the company rating was initiated by Scotia Capital. Raymond James downgraded the shares of MEOH in a report on Wednesday, August 19 to “Outperform” rating. The rating was downgraded by Monness Crespi & Hardt on Tuesday, January 19 to “Neutral”. As per Friday, July 31, the company rating was maintained by RBC Capital Markets. RBC Capital Markets maintained the stock with “Sector Perform” rating in Friday, January 29 report. The stock of Methanex Corporation (USA) (NASDAQ:MEOH) earned “Buy” rating by TD Securities on Friday, July 29.

According to Zacks Investment Research, “Methanex Corp. is a Vancouver based company engaged in the worldwide production and marketing of methanol. Methanol, made from natural gas, is a basic chemical building block used to manufacture products such as formaldehyde, MTBE, acetic acid and others. The Company operates production facilities in Canada, the United States, New Zealand and Chile. The Company also markets additional methanol from plants in the US, Trinidad and Europe.”

Methanex Corporation is a producer and supplier of methanol to a range of international markets. The company has a market cap of $3.20 billion. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. It has a 53.28 P/E ratio. The Company’s global activities are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

MEOH Company Profile

Methanex Corporation, incorporated on March 5, 1992, is a producer and supplier of methanol to a range of international markets in North America, Asia Pacific, Europe and South America. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. The Company’s global activities are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers. The Company’s global supply chain and distribution network provides its clients with supply of methanol. The Company’s subsidiary, Waterfront Shipping Company Limited, operates its fleet, which is made up of approximately 20 vessels ranging from 3,000 to 50,000 deadweight tons of capacity. It has over three production facilities in New Zealand that supply methanol primarily to clients in Asia Pacific. The Firm operates over two plants in Trinidad, Titan and Atlas, which supply methanol to markets in North America, Europe, Asia Pacific and South America.

More recent Methanex Corporation (USA) (NASDAQ:MEOH) news were published by: Fool.ca which released: “Methanex Corporation Is Down 30% in 30 Days: Is This the Bottom?” on February 02, 2016. Also Benzinga.com published the news titled: “Raymond James Downgrades Methanex Amid Upturn In Methanol Prices” on October 03, 2016. Moodys.com‘s news article titled: “Moody’s changes Methanex’s rating outlook to negative” with publication date: February 04, 2016 was also an interesting one.

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