Methanex: Ignore The Earnings, Focus On The Cash Flow
Tristan R. Brown
Tristan R. Brown
Methanex Shares Are Priced As If The Methanol Market Won't Recover
Tristan R. Brown
Tristan R. Brown
Tue, Nov. 29, 3:39 PM
- BMO raises its stock price target for Methanex (MEOH -0.5%) to $47 from $39, citing rapidly rising methanol prices and improving gas availability in Chile and Egypt.
- “Spot prices have risen strongly in November, but we believe Chinese spot prices might be higher than investors believe and December contract prices will rise much higher than estimates,” BMO's Joel Jackson writes.
- Also, the firm says MEOH believes it may have 100% gas availability until the summer in Egypt, potentially the longest stretch of continuous gas in years, and the Chile I plant could rise to full rates within weeks for the first time in years.
Thu, Nov. 17, 5:38 PM
Wed, Oct. 26, 6:03 PM
Tue, Oct. 25, 5:35 PM
- ABX, ACGL, AEM, AHL, ALDW, ALGT, AMSF, ANIK, AR, ARI, ARRS, AXS, AXTI, BGG, BWLD, CAA, CACI, CAKE, CDE, CHE, CMO, CMPR, CRY, CSGP, CSII, CW, DDR, DLB, DRE, ECHO, EFX, EGHT, EPE, EQY, ESND, ESV, EXR, FBHS, FFIV, FISV, FORR, GG, GRPN, GTY, HUBG, IBKC, INFN, JBT, KEX, KMT, KNX, KRA, KRC, KWR, LLNW, LMAT, MB, MC, MEOH, MKSI, MMLP, MMSI, MN, MUR, NEM, NEU, NOW, NTGR, NTRI, NXPI, O, OCN, ORLY, PLNT, PLXS, PPC, PRXL, PSA, PTC, QDEL, QEP, QTM, RCII, RGA, RHI, RJF, SCI, SFLY, SGMO, SHLM, SIGI, SU, TER, TILE, TIS, TRN, TSLA, TTMI, TXN, TYL, UCTT, UHS, UNM, VAR, VMW, WCN, WDC, WIRE, WLL, XL
Mon, Oct. 3, 3:38 PM
- Methanex (MEOH -1.7%) is downgraded to Outperform from Strong Buy with a $40 price target at Raymond James on valuation.
- Global methanol prices have come to life after a lethargic summer, rising by more than 25% in the past six weeks mostly due to several planned and unplanned outages, which the firm thinks will provide a boost to the company's free cash flow outlook.
- Raymond James sees robust demand growth, limited supply additions and an improving outlook for oil creating a positive macro environment for methanol.
Wed, Jul. 27, 5:16 PM
Tue, Jul. 26, 5:35 PM
- ABCO, ABX, ACGL, AEM, AF, AGNC, AHL, ALEX, ALSN, AMCC, AMGN, ANIK, ARRS, ASGN, AXTI, BKCC, CA, CAKE, CBI, CBT, CDE, CMO, CMPR, CMRE, CNMD, COHR, CRUS, CSGP, CVTI, CW, CYS, DLB, DRE, ECHO, EFX, ELY, EQY, ESRT, ESV, EXR, FB, FBHS, FOE, FORR, GG, GPRO, GRPN, HOLX, HT, IAC, IBKC, INFN, INT, ISBC, KEX, KGC, KIM, KNL, KNX, KONA, KRA, KS, LLNW, LM, LOGI, LPSN, LRCX, MAA, MANT, MAR, MCK, MEOH, MKSI, MMLP, MMSI, MN, MOH, MUR, NATI, NE, NEU, NGD, NOW, NTGR, NTRI, NVDQ, NXPI, O, OCN, OI, ORLY, OTEX, PEIX, PPC, PSA, PXD, QDEL, QEP, QTM, RCII, ROIC, RRTS, SCI, SFLY, SIGI, SPRT, SPSC, SSNC, SU, TER, TILE, TIS, TMK, TMST, TTEK, TTMI, TYL, UNM, VAR, VNDA, VNR, VRTX, WFM, WFT, WIRE, WLL, WRE, WSR, XL, XLNX
Fri, Jul. 15, 6:03 AM
Thu, Apr. 28, 1:16 AM
- Methanex Corporation (NASDAQ:MEOH) declares $0.275/share quarterly dividend, in line with previous.
- Forward yield 3.04%
- Payable June 30; for shareholders of record June 16; ex-div June 14.
Wed, Apr. 27, 11:45 PM
- Methanex (NASDAQ:MEOH): Q1 EPS of -$0.27 misses by $0.08.
- Revenue of $434.85M (-24.6% Y/Y) misses by $10.95M.
Tue, Apr. 26, 5:35 PM
- ACGL, AEL, AF, ALGT, AMKR, AMP, ANIK, AR, ASGN, AVB, AVG, BCR, BGC, BKCC, BLKB, CACI, CAKE, CAVM, CBL, CDE, CGI, CLI, CMO, CMPR, CNMD, CNO, CRY, CSGP, CVTI, DGI, DLB, DMRC, DRE, DTLK, DWRE, DXCM, ECHO, EFX, ELY, EQY, ESRT, ESV, EXTR, FB, FIX, FNF, FORM, FORR, FR, FSLR, GG, HOLX, HTCH, HY, IBKC, INFN, IPHS, KEX, KIM, KRA, KRC, KS, LLNW, LOCK, LOGI, LQ, MANT, MAR, MC, MEOH, MMLP, MN, MSTR, MTGE, NE, NEU, NGD, NTGR, NVDQ, OIS, ORLY, OTEX, PEB, PPC, PRXL, PYPL, QDEL, QEP, QGEN, RCII, RGLD, RNG, ROIC, SCI, SFLY, SGI, SIMO, SNDK, SPRT, SSS, STR, TAL, TER, TILE, TS, TTEK, TTMI, TXN, TYL, UHS, UNM, VAR, VRTX, WCN, WIRE, WLL, WRE, WSR, XL, XLNX
Thu, Mar. 24, 2:45 PM
- Methanex (MEOH -2.4%) is downgraded to Hold from Buy with a $34 price target at TD Securities, which believes the company’s recent share price appreciation has outpaced the improvement in the outlook for methanol prices.
- TD says that while its methanol forecast assumes an average realized price of $300/metric ton in 2017 and $325 in 2018 and beyond, the results would require a meaningful recovery relative to its estimate of $237/ton in Q1 2016 and $259 in full-year 2016.
- Combined with the stock's 40% rebound off its recent low, the firm sees near-term risk as it expects the Q1 consensus EBITDA estimate will come down.
Mon, Mar. 14, 3:21 PM
- Methanex (MEOH -1.5%) is downgraded to Neutral from Buy with a $35 price target at Citigroup, after shares have gained more than 40% since late January.
- Citi says MEOH now reflects a more meaningful recovery in methanol prices, while the market appears poised to remain challenging in H1 2016, with new U.S. capacity being absorbed.
- Citi says MEOH shares are factoring in a significant ramp in methanol prices to above $300/metric ton in 2017, compared to the firm's Q1 2016 realized price forecast of $237/metric ton and its 2017 forecast of $295; the firm says its base case assumes higher methanol prices from here but amid a bumpy path.
Fri, Mar. 11, 5:38 PM
Wed, Mar. 2, 11:29 AM
- Methanex (MEOH +4.7%) is upgraded to Outperform from Market Perform with a $40 price target, raised from $32, at Raymond James, which expects current North American methanol price dislocations to fade in coming months.
- The firm expects the price discount to China to fall in the coming months, followed by a broader market increase in H2 2016.
- With MEOH poised to capitalize on the pricing recovery, the firm sees potential upside to both earnings and free cash flow as oil prices recover.
Fri, Feb. 26, 5:41 PM