Methanex (NASDAQ:MEOH) Issues Earnings Results, Beats Expectations By $0.30 EPS

Methanex (NASDAQ:MEOH) (TSE:MX) announced its quarterly earnings results on Wednesday. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30, Zacks reports. Methanex had a return on equity of 11.10% and a net margin of 4.41%.

Methanex Price Performance

NASDAQ MEOH traded up $0.57 during trading on Friday, hitting $52.33. 101,209 shares of the company’s stock were exchanged, compared to its average volume of 380,528. The stock’s 50 day moving average price is $48.33 and its two-hundred day moving average price is $44.96. Methanex has a fifty-two week low of $36.13 and a fifty-two week high of $56.43. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The company has a market cap of $3.53 billion, a PE ratio of 22.63 and a beta of 1.37.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.41%. Methanex’s dividend payout ratio is presently 32.03%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MEOH. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 target price on shares of Methanex in a research note on Monday, January 6th. Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Piper Sandler boosted their target price on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. UBS Group lowered their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.75.

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.