Equities analysts expect that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will report earnings of $0.87 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Methanex’s earnings, with estimates ranging from $0.86 to $0.88. Methanex reported earnings per share of $2.03 during the same quarter last year, which indicates a negative year-over-year growth rate of 57.1%. The business is scheduled to announce its next earnings results on Wednesday, April 24th.
According to Zacks, analysts expect that Methanex will report full year earnings of $5.25 per share for the current year, with EPS estimates ranging from $4.89 to $5.60. For the next fiscal year, analysts forecast that the company will report earnings of $6.85 per share, with EPS estimates ranging from $6.50 to $7.20. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, January 30th. The specialty chemicals company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.75 by ($0.60). The company had revenue of $977.00 million for the quarter, compared to analysts’ expectations of $986.13 million. Methanex had a return on equity of 31.00% and a net margin of 14.48%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the business earned $1.70 EPS.
MEOH has been the subject of several research analyst reports. BidaskClub lowered shares of Methanex from a “sell” rating to a “strong sell” rating in a research note on Friday, November 30th. Zacks Investment Research reissued a “sell” rating on shares of Methanex in a research note on Monday, December 31st. TD Securities lowered their price objective on shares of Methanex from $77.00 to $70.00 and set a “buy” rating for the company in a research note on Wednesday, January 30th. Cowen downgraded shares of Methanex from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $74.00 to $62.00 in a research note on Wednesday, February 6th. Finally, Scotiabank set a $71.00 price target on shares of Methanex and gave the stock a “buy” rating in a research note on Wednesday, November 28th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $78.43.
MEOH stock traded down $2.66 during mid-day trading on Friday, hitting $57.72. 353,905 shares of the company were exchanged, compared to its average volume of 432,058. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.20 and a quick ratio of 0.83. The firm has a market cap of $4.46 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 0.73 and a beta of 1.55. Methanex has a 12-month low of $45.48 and a 12-month high of $83.23.
The company also recently declared a quarterly dividend, which will be paid on Sunday, March 31st. Investors of record on Sunday, March 17th will be paid a $0.33 dividend. The ex-dividend date is Thursday, March 14th. This represents a $1.32 dividend on an annualized basis and a yield of 2.29%. Methanex’s dividend payout ratio is currently 19.24%.
A number of hedge funds have recently added to or reduced their stakes in MEOH. Financial Gravity Companies Inc. acquired a new position in Methanex in the 4th quarter valued at $36,000. Shepherd Kaplan Krochuk LLC increased its stake in shares of Methanex by 3.6% during the 4th quarter. Shepherd Kaplan Krochuk LLC now owns 23,260 shares of the specialty chemicals company’s stock valued at $1,120,000 after acquiring an additional 800 shares during the last quarter. Credit Suisse AG increased its stake in shares of Methanex by 0.6% during the 3rd quarter. Credit Suisse AG now owns 141,783 shares of the specialty chemicals company’s stock valued at $11,214,000 after acquiring an additional 898 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of Methanex by 2.4% during the 4th quarter. CIBC Asset Management Inc now owns 51,485 shares of the specialty chemicals company’s stock valued at $2,477,000 after acquiring an additional 1,195 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in Methanex by 415.7% during the 4th quarter. Quadrant Capital Group LLC now owns 1,671 shares of the specialty chemicals company’s stock worth $78,000 after purchasing an additional 1,347 shares in the last quarter. 70.72% of the stock is currently owned by institutional investors.
Methanex Company Profile
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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