Brokerages Anticipate Methanex Co. (MEOH) to Post $2.01 EPS

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Equities research analysts expect Methanex Co. (NASDAQ:MEOH) (TSE:MX) to report earnings per share of $2.01 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for Methanex’s earnings. The highest EPS estimate is $2.02 and the lowest is $2.00. Methanex reported earnings of $0.60 per share during the same quarter last year, which indicates a positive year over year growth rate of 235%. The business is scheduled to issue its next earnings report on Wednesday, October 24th.

On average, analysts expect that Methanex will report full-year earnings of $7.30 per share for the current financial year, with EPS estimates ranging from $6.85 to $7.74. For the next year, analysts anticipate that the business will report earnings of $6.29 per share, with EPS estimates ranging from $4.95 to $7.63. Zacks’ EPS calculations are an average based on a survey of analysts that cover Methanex.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.75. The business had revenue of $950.00 million during the quarter, compared to the consensus estimate of $872.10 million. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The firm’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share.

MEOH has been the subject of a number of research analyst reports. MED reiterated a “buy” rating on shares of Methanex in a report on Monday, August 6th. Royal Bank of Canada lifted their target price on Methanex from $70.00 to $78.00 in a report on Friday, July 27th. Citigroup boosted their price objective on Methanex from $67.00 to $75.00 and gave the company a “neutral” rating in a report on Wednesday, July 11th. Cowen boosted their price objective on Methanex from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Thursday, June 7th. Finally, Jefferies Financial Group boosted their price objective on Methanex from $72.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 8th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $73.14.

MEOH stock traded up $0.90 during mid-day trading on Friday, reaching $72.55. The company’s stock had a trading volume of 2,548 shares, compared to its average volume of 261,986. The company has a market cap of $5.68 billion, a P/E ratio of 15.13, a PEG ratio of 0.74 and a beta of 1.60. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.18 and a current ratio of 1.62. Methanex has a 12 month low of $48.55 and a 12 month high of $77.10.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th will be given a dividend of $0.33 per share. The ex-dividend date is Thursday, September 13th. This represents a $1.32 annualized dividend and a dividend yield of 1.82%. Methanex’s dividend payout ratio (DPR) is presently 28.03%.

Several institutional investors have recently made changes to their positions in MEOH. Advisors Preferred LLC bought a new position in shares of Methanex during the 1st quarter valued at about $103,000. Mount Yale Investment Advisors LLC bought a new position in shares of Methanex during the 1st quarter valued at about $120,000. Highstreet Asset Management Inc. bought a new position in shares of Methanex during the 2nd quarter valued at about $183,000. Suntrust Banks Inc. bought a new position in shares of Methanex during the 1st quarter valued at about $212,000. Finally, One Capital Management LLC bought a new position in shares of Methanex during the 2nd quarter valued at about $212,000. Hedge funds and other institutional investors own 75.77% of the company’s stock.

About Methanex

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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