Brokerages predict that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will report earnings per share (EPS) of $1.70 for the current quarter, according to Zacks. Zero analysts have issued estimates for Methanex’s earnings. The lowest EPS estimate is $1.67 and the highest is $1.72. Methanex posted earnings per share of $0.85 in the same quarter last year, which suggests a positive year-over-year growth rate of 100%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, July 25th.
According to Zacks, analysts expect that Methanex will report full-year earnings of $6.43 per share for the current fiscal year, with EPS estimates ranging from $5.60 to $7.26. For the next year, analysts expect that the company will post earnings of $6.11 per share, with EPS estimates ranging from $5.10 to $7.11. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, April 25th. The specialty chemicals company reported $2.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.08 by ($0.05). Methanex had a return on equity of 24.47% and a net margin of 11.00%. The business had revenue of $962.00 million for the quarter, compared to analysts’ expectations of $965.83 million. During the same quarter in the prior year, the business posted $1.56 EPS. The business’s revenue for the quarter was up 18.8% compared to the same quarter last year.
Several analysts recently issued reports on MEOH shares. Royal Bank of Canada increased their target price on Methanex from $67.00 to $70.00 and gave the stock a “sector perform” rating in a research report on Thursday, April 26th. Scotiabank set a $69.50 price target on Methanex and gave the company a “sector perform” rating in a report on Tuesday, April 24th. TD Securities raised their price target on Methanex from $68.00 to $69.00 and gave the company a “hold” rating in a report on Wednesday, April 11th. Cowen raised their price target on Methanex from $69.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday, April 17th. Finally, ValuEngine upgraded Methanex from a “buy” rating to a “strong-buy” rating in a report on Monday, April 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $68.63.
Shares of NASDAQ:MEOH traded up $0.10 during trading on Monday, hitting $68.85. 602 shares of the company’s stock were exchanged, compared to its average volume of 419,858. The company has a current ratio of 1.75, a quick ratio of 1.29 and a debt-to-equity ratio of 0.78. Methanex has a 52-week low of $42.15 and a 52-week high of $72.20. The stock has a market capitalization of $5.61 billion, a P/E ratio of 14.54, a P/E/G ratio of 0.82 and a beta of 1.65.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 30th. Stockholders of record on Saturday, June 16th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Thursday, June 14th. Methanex’s payout ratio is 28.03%.
Methanex announced that its board has initiated a stock repurchase plan on Monday, March 5th that authorizes the company to repurchase 6,590,000 shares. This repurchase authorization authorizes the specialty chemicals company to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
Several large investors have recently bought and sold shares of the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Methanex in the 1st quarter valued at approximately $120,000. Nicola Wealth Management LTD. bought a new stake in shares of Methanex in the 1st quarter valued at approximately $5,963,000. Suntrust Banks Inc. bought a new stake in shares of Methanex in the 1st quarter valued at approximately $212,000. CIBC World Markets Inc. lifted its stake in shares of Methanex by 221.3% in the 1st quarter. CIBC World Markets Inc. now owns 465,430 shares of the specialty chemicals company’s stock valued at $28,228,000 after purchasing an additional 320,567 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp lifted its stake in shares of Methanex by 0.7% in the 1st quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 917,400 shares of the specialty chemicals company’s stock valued at $71,603,000 after purchasing an additional 6,400 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.
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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