Methanex Corporation (USA) Can’t Burn Your Long Portfolio. Option Traders are Bullish

 Methanex Corporation (USA) Can't Burn Your Long Portfolio. Option Traders are Bullish

In today’s session Methanex Corporation (USA) (MEOH) registered an unusually high (512) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious MEOH increase. With 512 contracts traded and 9364 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MEOH161216C00040000 closed last at: $1.3 or 16.1% down. About 521,874 shares traded hands. Methanex Corporation (USA) (NASDAQ:MEOH) has risen 12.69% since April 25, 2016 and is uptrending. It has outperformed by 6.67% the S&P500.

Analysts await Methanex Corporation (USA) (NASDAQ:MEOH) to report earnings on January, 25. They expect $-0.05 earnings per share, down 145.45% or $0.16 from last year’s $0.11 per share. After $-0.12 actual earnings per share reported by Methanex Corporation (USA) for the previous quarter, Wall Street now forecasts -58.33% EPS growth.

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

Out of 11 analysts covering Methanex Corporation (NASDAQ:MEOH), 6 rate it a “Buy”, 1 “Sell”, while 4 “Hold”. This means 55% are positive. Methanex Corporation has been the topic of 33 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The rating was upgraded by Howard Weil to “Outperform” on Monday, July 27. RBC Capital Markets maintained it with “Sector Perform” rating and $34 target price in Friday, January 29 report. On Tuesday, November 24 the stock rating was maintained by Cowen & Co with “Buy”. As per Tuesday, May 17, the company rating was upgraded by Raymond James. Scotia Capital initiated Methanex Corporation (USA) (NASDAQ:MEOH) on Monday, September 21 with “Sell” rating. The rating was maintained by Cowen & Co with “Outperform” on Wednesday, September 9. The rating was downgraded by Monness Crespi & Hardt to “Neutral” on Tuesday, January 19. Citigroup downgraded the shares of MEOH in a report on Monday, March 14 to “Hold” rating. TD Securities upgraded Methanex Corporation (USA) (NASDAQ:MEOH) on Friday, July 29 to “Buy” rating. RBC Capital Markets maintained it with “Sector Perform” rating and $56 target price in Friday, July 31 report.

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 $3.64 billion. The Firm operates production sites in Canada, Chile, Egypt, New Zealand, the United States, and Trinidad and Tobago. It currently has negative earnings. 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 news for Methanex Corporation (USA) (NASDAQ:MEOH) were recently published by: Fool.ca, which released: “Methanex Corporation Is Down 30% in 30 Days: Is This the Bottom?” on February 02, 2016. Moodys.com‘s article titled: “Moody’s changes Methanex’s rating outlook to negative” and published on February 04, 2016 is yet another important article.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment