Zacks: Brokerages Anticipate Methanex (MEOH) Will Announce Earnings of $2.08 Per Share

Equities analysts expect Methanex (NASDAQ:MEOH) (TSE:MX) to report earnings per share of $2.08 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Methanex’s earnings. The highest EPS estimate is $2.17 and the lowest is $1.98. Methanex posted earnings of $1.56 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The business is scheduled to report its next quarterly earnings report after the market closes on Wednesday, April 25th.

On average, analysts expect that Methanex will report full-year earnings of $6.35 per share for the current financial year, with EPS estimates ranging from $5.40 to $7.29. For the next year, analysts anticipate that the business will report earnings of $5.54 per share, with EPS estimates ranging from $4.05 to $7.02. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that cover Methanex.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.51. The company had revenue of $861.00 million for the quarter, compared to the consensus estimate of $796.57 million. Methanex had a net margin of 10.34% and a return on equity of 22.72%. The firm’s revenue was up 47.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.46 EPS.

Several research analysts recently commented on MEOH shares. Royal Bank of Canada raised their price target on shares of Methanex from $63.00 to $67.00 and gave the stock a “sector perform” rating in a research note on Friday, February 2nd. CIBC downgraded shares of Methanex from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 9th. BidaskClub raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, March 23rd. Alembic Global Advisors reissued a “buy” rating on shares of Methanex in a research report on Monday, January 8th. Finally, TD Securities raised their target price on shares of Methanex from $68.00 to $69.00 and gave the company a “hold” rating in a research report on Wednesday, April 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. Methanex currently has an average rating of “Hold” and an average price target of $59.86.

A number of hedge funds have recently added to or reduced their stakes in MEOH. FineMark National Bank & Trust acquired a new stake in Methanex during the 4th quarter valued at approximately $253,000. FNY Partners Fund LP acquired a new stake in Methanex during the 4th quarter valued at approximately $302,000. AXA acquired a new stake in Methanex during the 4th quarter valued at approximately $442,000. Twin Tree Management LP acquired a new stake in Methanex during the 4th quarter valued at approximately $679,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Methanex during the 3rd quarter valued at approximately $704,000. Institutional investors own 81.30% of the company’s stock.

MEOH stock traded down $0.60 during trading on Tuesday, hitting $65.90. The company had a trading volume of 738,147 shares, compared to its average volume of 742,833. The company has a market capitalization of $5,596.71, a PE ratio of 13.99, a P/E/G ratio of 0.70 and a beta of 1.63. Methanex has a 52-week low of $39.47 and a 52-week high of $69.75. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.25.

The business also recently announced a quarterly dividend, which was paid on Saturday, March 31st. Investors of record on Saturday, March 17th were paid a $0.33 dividend. The ex-dividend date of this dividend was Thursday, March 15th. This is a boost from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.00%. Methanex’s dividend payout ratio (DPR) is 28.03%.

Methanex announced that its board has approved a share repurchase program on Monday, March 5th that authorizes the company to repurchase 6,590,000 shares. This repurchase authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

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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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Earnings History and Estimates for Methanex (NASDAQ:MEOH)

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