Methanex (TSE:MX) Reaches New 12-Month High After Earnings Beat

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares reached a new 52-week high during mid-day trading on Thursday following a stronger than expected earnings report. The stock traded as high as C$69.85 and last traded at C$68.26, with a volume of 60033 shares trading hands. The stock had previously closed at C$65.35.

The company reported C$0.88 earnings per share for the quarter, topping the consensus estimate of C$0.40 by C$0.48. The company had revenue of C$1.23 billion during the quarter, compared to analyst estimates of C$1.23 billion. Methanex had a net margin of 4.68% and a return on equity of 12.35%.

Methanex Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.52%. This is a boost from Methanex’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, June 14th. Methanex’s dividend payout ratio is 28.86%.

Methanex Stock Performance

The company has a debt-to-equity ratio of 138.70, a quick ratio of 1.59 and a current ratio of 1.14. The stock has a market capitalization of C$4.45 billion, a PE ratio of 18.85, a P/E/G ratio of 0.44 and a beta of 1.94. The firm’s 50 day moving average is C$61.90 and its two-hundred day moving average is C$60.63.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.