Methanex (MEOH) to Release Quarterly Earnings on Wednesday

Methanex (NASDAQ:MEOH) (TSE:MX) will be announcing its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of $0.28 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Methanex (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.24. Methanex had a net margin of 4.67% and a return on equity of 6.71%. The business had revenue of $922.00 million during the quarter, compared to the consensus estimate of $901.21 million. On average, analysts expect Methanex to post $2 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Methanex Price Performance

Shares of NASDAQ MEOH opened at $47.66 on Tuesday. Methanex has a fifty-two week low of $38.18 and a fifty-two week high of $51.42. The company has a 50 day simple moving average of $45.39 and a two-hundred day simple moving average of $44.63. The company has a market capitalization of $3.21 billion, a price-to-earnings ratio of 19.37 and a beta of 1.51. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 1.14.

Methanex Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Wednesday, March 13th. Methanex’s dividend payout ratio is 30.08%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on MEOH shares. UBS Group raised shares of Methanex from a “neutral” rating to a “buy” rating and raised their target price for the company from $51.00 to $60.00 in a research note on Thursday, February 8th. Raymond James reduced their price target on shares of Methanex from $67.00 to $62.00 and set an “outperform” rating for the company in a research report on Wednesday, February 21st. Barclays raised their price target on shares of Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. CIBC raised their price target on shares of Methanex from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Finally, Piper Sandler reissued a “neutral” rating and set a $50.00 price target on shares of Methanex in a research report on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Methanex has a consensus rating of “Moderate Buy” and a consensus target price of $53.50.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.