Equities analysts predict that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will report earnings of $1.88 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have made estimates for Methanex’s earnings. Methanex reported earnings per share of $1.56 during the same quarter last year, which would suggest a positive year-over-year growth rate of 20.5%. The company is scheduled to issue its next earnings report on Wednesday, April 25th.
According to Zacks, analysts expect that Methanex will report full year earnings of $5.33 per share for the current fiscal year, with EPS estimates ranging from $5.25 to $5.41. For the next fiscal year, analysts forecast that the business will post earnings of $4.68 per share, with EPS estimates ranging from $4.05 to $5.31. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that follow Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.51. The business 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 quarterly revenue was up 47.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.46 EPS.
Shares of Methanex (MEOH) traded down $3.05 during midday trading on Thursday, reaching $54.90. 963,939 shares of the company traded hands, compared to its average volume of 771,163. The firm has a market cap of $5,005.30, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 0.75 and a beta of 1.73. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. Methanex has a 1-year low of $39.47 and a 1-year high of $64.60.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th will be given a dividend of $0.33 per share. The ex-dividend date of this dividend is Thursday, March 15th. This is an increase from Methanex’s previous quarterly dividend of $0.30. This represents a $1.32 dividend on an annualized basis and a yield of 2.40%. Methanex’s dividend payout ratio is presently 33.90%.
A number of institutional investors have recently added to or reduced their stakes in MEOH. Alliancebernstein L.P. acquired a new position in Methanex during the 2nd quarter valued at about $759,000. PNC Financial Services Group Inc. increased its stake in shares of Methanex by 3.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 6,948 shares of the specialty chemicals company’s stock valued at $305,000 after acquiring an additional 259 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Methanex by 3.8% in the 2nd quarter. Vanguard Group Inc. now owns 2,067,886 shares of the specialty chemicals company’s stock valued at $91,090,000 after acquiring an additional 76,132 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Methanex by 98.4% in the 2nd quarter. Renaissance Technologies LLC now owns 378,098 shares of the specialty chemicals company’s stock valued at $16,659,000 after acquiring an additional 187,500 shares during the last quarter. Finally, AHL Partners LLP bought a new stake in shares of Methanex in the 2nd quarter valued at about $300,000. Institutional investors own 84.74% of the company’s stock.
TRADEMARK VIOLATION NOTICE: This news story was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another site, it was illegally stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/08/zacks-analysts-expect-methanex-co-meoh-to-post-1-88-earnings-per-share.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Methanex Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methanex and related companies with MarketBeat.com's FREE daily email newsletter.