$0.50 EPS Expected for Methanex Corporation (MEOH) This Quarter
Wall Street brokerages predict that Methanex Corporation (NASDAQ:MEOH) (TSE:MX) will report earnings of $0.50 per share for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Methanex Corporation’s earnings, with estimates ranging from $0.39 to $0.61. Methanex Corporation posted earnings of ($0.01) per share in the same quarter last year, which suggests a positive year over year growth rate of 5,100%. The firm is expected to report its next quarterly earnings report on Wednesday, October 25th.
According to Zacks, analysts expect that Methanex Corporation will report full year earnings of $3.27 per share for the current financial year, with EPS estimates ranging from $2.90 to $3.64. For the next fiscal year, analysts expect that the business will report earnings of $3.32 per share, with EPS estimates ranging from $3.20 to $3.43. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Methanex Corporation.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by $0.23. The business had revenue of $669 million during the quarter, compared to the consensus estimate of $772.41 million. Methanex Corporation had a net margin of 8.92% and a return on equity of 12.43%. The business’s revenue was up 42.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) earnings per share.
Several research analysts recently issued reports on MEOH shares. ValuEngine raised shares of Methanex Corporation from a “hold” rating to a “buy” rating in a report on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating and set a $60.00 target price on shares of Methanex Corporation in a report on Monday, May 15th. Royal Bank Of Canada reduced their target price on shares of Methanex Corporation from $54.00 to $50.00 and set a “sector perform” rating for the company in a report on Tuesday, July 18th. BMO Capital Markets reissued a “buy” rating on shares of Methanex Corporation in a report on Friday, June 30th. Finally, Scotiabank set a $53.00 target price on shares of Methanex Corporation and gave the stock a “sector perform” rating in a report on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $56.80.
Methanex Corporation (MEOH) opened at 46.45 on Tuesday. Methanex Corporation has a 12-month low of $28.17 and a 12-month high of $53.35. The stock has a 50 day moving average price of $44.84 and a 200 day moving average price of $45.22. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 18.07 and a beta of 1.78.
Methanex Corporation announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 26th that authorizes the company to repurchase 1,660,000 outstanding shares. This repurchase authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Saturday, September 16th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.20 annualized dividend and a dividend yield of 2.58%. Methanex Corporation’s dividend payout ratio (DPR) is 47.81%.
Several hedge funds have recently made changes to their positions in MEOH. World Asset Management Inc raised its stake in shares of Methanex Corporation by 0.8% in the first quarter. World Asset Management Inc now owns 5,594 shares of the specialty chemicals company’s stock valued at $262,000 after buying an additional 46 shares during the period. Comerica Bank raised its stake in shares of Methanex Corporation by 3.1% in the first quarter. Comerica Bank now owns 5,892 shares of the specialty chemicals company’s stock valued at $264,000 after buying an additional 178 shares during the period. US Bancorp DE raised its stake in shares of Methanex Corporation by 13.1% in the first quarter. US Bancorp DE now owns 26,248 shares of the specialty chemicals company’s stock valued at $1,231,000 after buying an additional 3,031 shares during the period. Boston Partners raised its stake in shares of Methanex Corporation by 45.2% in the first quarter. Boston Partners now owns 4,073,684 shares of the specialty chemicals company’s stock valued at $191,056,000 after buying an additional 1,269,029 shares during the period. Finally, DekaBank Deutsche Girozentrale bought a new stake in shares of Methanex Corporation during the first quarter valued at about $310,000. Institutional investors and hedge funds own 81.92% of the company’s stock.
Methanex Corporation Company Profile
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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