Equities research analysts expect Methanex Co. (NASDAQ:MEOH) (TSE:MX) to post earnings of $2.07 per share for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Methanex’s earnings. The lowest EPS estimate is $1.88 and the highest is $2.25. Methanex posted earnings of $1.56 per share in the same quarter last year, which suggests a positive year over year growth rate of 32.7%. The firm is expected to announce its next earnings results on Wednesday, April 25th.
According to Zacks, analysts expect that Methanex will report full-year earnings of $6.11 per share for the current fiscal year, with EPS estimates ranging from $5.25 to $6.97. For the next financial year, analysts anticipate that the company will report earnings of $5.14 per share, with EPS estimates ranging from $4.05 to $6.22. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Methanex.
Methanex (NASDAQ:MEOH) (TSE:MX) last announced its quarterly earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.51. The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $796.57 million. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The firm’s quarterly revenue was up 47.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.46 earnings per share.
Shares of Methanex (NASDAQ:MEOH) opened at $55.75 on Wednesday. The firm has a market capitalization of $4,687.66, a P/E ratio of 15.75, a PEG ratio of 0.61 and a beta of 1.79. Methanex has a fifty-two week low of $39.47 and a fifty-two week high of $64.60. The company has a quick ratio of 1.25, a current ratio of 1.66 and a debt-to-equity ratio of 0.83.
Methanex announced that its board has approved a stock buyback program on Monday, March 5th that authorizes the company to buyback 6,590,000 shares. This buyback authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Saturday, March 31st. Stockholders of record on Saturday, March 17th will be paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 2.37%. The ex-dividend date is Thursday, March 15th. This is a boost from Methanex’s previous quarterly dividend of $0.30. Methanex’s dividend payout ratio is 33.90%.
Several institutional investors have recently added to or reduced their stakes in MEOH. ETRADE Capital Management LLC purchased a new stake in shares of Methanex during the third quarter worth approximately $241,000. FineMark National Bank & Trust purchased a new position in Methanex in the fourth quarter worth $253,000. FNY Partners Fund LP purchased a new position in Methanex in the fourth quarter worth $302,000. Trexquant Investment LP purchased a new position in Methanex in the third quarter worth $388,000. Finally, Timber Hill LLC purchased a new position in Methanex in the third quarter worth $410,000. Institutional investors and hedge funds own 80.18% of the company’s stock.
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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