Brokerages expect Methanex Co. (NASDAQ:MEOH) (TSE:MX) to report $2.07 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Methanex’s earnings. The lowest EPS estimate is $1.88 and the highest is $2.25. Methanex reported earnings of $1.56 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 32.7%. The firm is scheduled to report its next quarterly earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Methanex will report full-year earnings of $6.11 per share for the current financial year, with EPS estimates ranging from $5.25 to $6.97. For the next fiscal year, analysts anticipate that the firm will post earnings of $5.14 per share, with EPS estimates ranging from $4.05 to $6.22. Zacks Investment Research’s EPS averages are an average based on a survey of research analysts that cover Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.51. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The business had revenue of $861.00 million for the quarter, compared to analyst estimates of $796.57 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. The company’s revenue was up 47.2% on a year-over-year basis.
MEOH has been the topic of a number of research analyst reports. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating and set a $60.00 price target on the stock. in a research note on Tuesday, October 31st. BMO Capital Markets reiterated a “buy” rating and issued a $57.00 target price on shares of Methanex in a research report on Friday, November 24th. Scotiabank upped their target price on Methanex from $53.50 to $74.00 and gave the company a “sector perform” rating in a research report on Thursday, November 30th. ValuEngine lowered Methanex from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 30th. Finally, Cowen reiterated an “outperform” rating and issued a $65.00 target price (up previously from $58.00) on shares of Methanex in a research report on Thursday, December 14th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $59.00.
Large investors have recently made changes to their positions in the business. ETRADE Capital Management LLC acquired a new position in Methanex in the third quarter valued at approximately $241,000. FineMark National Bank & Trust acquired a new position in Methanex in the fourth quarter valued at approximately $253,000. FNY Partners Fund LP acquired a new position in Methanex in the fourth quarter valued at approximately $302,000. Trexquant Investment LP acquired a new position in Methanex in the third quarter valued at approximately $388,000. Finally, Timber Hill LLC acquired a new position in Methanex in the third quarter valued at approximately $410,000. 81.60% of the stock is owned by institutional investors.
Shares of Methanex (MEOH) opened at $59.25 on Friday. Methanex has a 52 week low of $39.47 and a 52 week high of $64.60. The firm has a market capitalization of $4,963.43, a PE ratio of 16.74, a PEG ratio of 0.65 and a beta of 1.73. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be issued a $0.33 dividend. The ex-dividend date is Thursday, March 15th. This is an increase from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.23%. Methanex’s payout ratio is presently 33.90%.
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Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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