Analysts Anticipate Methanex Co. (MEOH) Will Announce Earnings of $2.01 Per Share

Wall Street analysts predict that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will post earnings of $2.01 per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Methanex’s earnings. The lowest EPS estimate is $1.90 and the highest is $2.11. Methanex posted earnings of $1.70 per share during the same quarter last year, which suggests a positive year over year growth rate of 18.2%. The business is expected to report its next quarterly earnings results on Wednesday, January 30th.

According to Zacks, analysts expect that Methanex will report full year earnings of $7.71 per share for the current financial year, with EPS estimates ranging from $7.60 to $7.81. For the next fiscal year, analysts anticipate that the company will report earnings of $8.04 per share, with EPS estimates ranging from $7.00 to $9.07. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Methanex.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 EPS for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.07). The business had revenue of $1.04 billion for the quarter. Methanex had a return on equity of 34.25% and a net margin of 12.48%.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating and set a $92.00 price target for the company in a research note on Wednesday, October 10th. BidaskClub cut shares of Methanex from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 6th. ValuEngine cut shares of Methanex from a “buy” rating to a “hold” rating in a research note on Tuesday, September 4th. MED restated a “buy” rating on shares of Methanex in a research note on Monday, November 5th. Finally, Alembic Global Advisors reiterated a “buy” rating on shares of Methanex in a research note on Monday, November 5th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Methanex presently has an average rating of “Buy” and a consensus target price of $82.36.

Several large investors have recently bought and sold shares of the company. AQR Capital Management LLC raised its stake in shares of Methanex by 9.0% in the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock valued at $192,573,000 after acquiring an additional 200,663 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Methanex by 0.7% in the third quarter. Vanguard Group Inc. now owns 2,201,920 shares of the specialty chemicals company’s stock valued at $174,171,000 after acquiring an additional 16,112 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp raised its stake in shares of Methanex by 8.3% in the third quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 1,079,600 shares of the specialty chemicals company’s stock valued at $110,076,000 after acquiring an additional 82,500 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Methanex by 35.5% in the third quarter. Canada Pension Plan Investment Board now owns 815,579 shares of the specialty chemicals company’s stock valued at $64,333,000 after acquiring an additional 213,820 shares during the last quarter. Finally, TD Asset Management Inc. raised its stake in shares of Methanex by 2.5% in the third quarter. TD Asset Management Inc. now owns 756,214 shares of the specialty chemicals company’s stock valued at $59,650,000 after acquiring an additional 18,543 shares during the last quarter. Institutional investors own 74.99% of the company’s stock.

Shares of MEOH opened at $55.18 on Thursday. The stock has a market cap of $4.31 billion, a price-to-earnings ratio of 7.46, a price-to-earnings-growth ratio of 0.53 and a beta of 1.62. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.70 and a quick ratio of 1.27. Methanex has a 12 month low of $51.00 and a 12 month high of $83.23.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date of this dividend is Friday, December 14th. Methanex’s dividend payout ratio (DPR) is currently 28.03%.

Methanex Company Profile

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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