Zacks: Analysts Expect Methanex Co. (MEOH) to Post $1.88 Earnings Per Share

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.

Several research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Methanex from $63.00 to $67.00 and gave the stock a “sector perform” rating in a research report on Friday, February 2nd. TD Securities upped their price target on shares of Methanex from $66.00 to $68.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Raymond James Financial upped their price target on shares of Methanex from $60.00 to $63.50 and gave the stock a “market perform” rating in a research report on Friday, February 2nd. Monness Crespi & Hardt reiterated a “buy” rating and set a $72.00 price target (up previously from $65.00) on shares of Methanex in a research report on Friday, February 2nd. Finally, Scotiabank reiterated a “hold” rating and set a $67.50 price target on shares of Methanex in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $59.00.

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.

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About Methanex

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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