Wall Street brokerages expect that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will report $2.01 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for Methanex’s earnings, with estimates ranging from $2.00 to $2.02. Methanex posted earnings of $0.60 per share in the same quarter last year, which would indicate a positive year over year growth rate of 235%. The business is scheduled to announce its next earnings results on Wednesday, October 24th.
According to Zacks, analysts expect that Methanex will report full year earnings of $7.30 per share for the current year, with EPS estimates ranging from $6.85 to $7.74. For the next financial year, analysts expect that the firm will post earnings of $6.29 per share, with EPS estimates ranging from $4.95 to $7.63. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that follow Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, meeting analysts’ consensus estimates of $1.75. The firm had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $872.10 million. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The company’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share.
Several research analysts recently issued reports on MEOH shares. Royal Bank of Canada increased their price objective on Methanex from $67.00 to $70.00 and gave the stock a “sector perform” rating in a research note on Thursday, April 26th. Scotiabank set a $69.50 price objective on Methanex and gave the stock a “sector perform” rating in a research note on Tuesday, April 24th. BidaskClub lowered Methanex from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 28th. Citigroup upped their target price on Methanex from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, July 11th. Finally, Cowen upped their target price on Methanex from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, June 7th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $73.14.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in 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 purchasing an additional 980 shares during the period. Advisors Preferred LLC grew its position 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 valued at $190,000 after acquiring an additional 985 shares during the period. FineMark National Bank & Trust grew its position 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 valued at $476,000 after acquiring an additional 1,070 shares during the period. Tower Research Capital LLC TRC grew its position 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 valued at $359,000 after acquiring an additional 1,482 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in shares of Methanex during the 1st quarter valued at about $120,000. 81.68% of the stock is currently owned by institutional investors.
NASDAQ:MEOH traded up $0.75 during midday trading on Thursday, hitting $72.25. The stock had a trading volume of 6,071 shares, compared to its average volume of 461,221. Methanex has a one year low of $43.60 and a one year high of $74.18. The stock has a market cap of $5.61 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 0.73 and a beta of 1.57. The company has a quick ratio of 1.18, a current ratio of 1.62 and a debt-to-equity ratio of 0.83.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 30th. Investors of record on Sunday, September 16th will be paid a $0.33 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.32 dividend on an annualized basis and a yield of 1.83%. Methanex’s dividend payout ratio (DPR) is 28.03%.
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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