Wall Street brokerages expect that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will report earnings of $2.01 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Methanex’s earnings. The lowest EPS estimate is $1.90 and the highest is $2.11. Methanex posted earnings of $1.70 per share during the same quarter last year, which suggests a positive year over year growth rate of 18.2%. The company is expected to report its next earnings report on Wednesday, January 30th.
On average, analysts expect that Methanex will report full-year earnings of $7.71 per share for the current fiscal year, with EPS estimates ranging from $7.60 to $7.81. For the next financial year, analysts anticipate that the company will report earnings of $8.11 per share, with EPS estimates ranging from $7.15 to $9.07. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.99 by ($0.07). Methanex had a return on equity of 34.25% and a net margin of 12.48%. The business had revenue of $1.04 billion for the quarter.
Several equities analysts have issued reports on MEOH shares. Raymond James upgraded Methanex from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $72.00 to $90.00 in a research report on Thursday, September 13th. BidaskClub upgraded Methanex from a “hold” rating to a “buy” rating in a research report on Saturday, September 15th. Royal Bank of Canada boosted their target price on Methanex from $78.00 to $83.00 and gave the stock a “sector perform” rating in a research report on Monday, October 1st. TD Securities upgraded Methanex from a “hold” rating to a “buy” rating and set a $77.00 target price on the stock in a research report on Friday, October 26th. They noted that the move was a valuation call. Finally, MED reiterated a “buy” rating on shares of Methanex in a research report on Monday, August 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $82.36.
Several large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in shares of Methanex by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 244,676 shares of the specialty chemicals company’s stock worth $14,840,000 after acquiring an additional 980 shares in the last quarter. Advisors Preferred LLC boosted its stake in shares of Methanex by 57.8% during the 2nd quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock worth $190,000 after acquiring an additional 985 shares in the last quarter. FineMark National Bank & Trust boosted its stake in shares of Methanex by 18.9% during the 2nd quarter. FineMark National Bank & Trust now owns 6,739 shares of the specialty chemicals company’s stock worth $476,000 after acquiring an additional 1,070 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Methanex by 41.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,082 shares of the specialty chemicals company’s stock worth $359,000 after acquiring an additional 1,482 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Methanex in the 1st quarter valued at approximately $120,000. 76.07% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ MEOH opened at $64.77 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.27 and a current ratio of 1.70. Methanex has a 12-month low of $48.72 and a 12-month high of $83.23. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 0.59 and a beta of 1.56.
Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.
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