Methanex (TSE:MX) Reaches New 1-Year High Following Better-Than-Expected Earnings

Methanex Co. (TSE:MX) (NASDAQ:MEOH)’s share price hit a new 52-week high during trading on Thursday following a better than expected earnings announcement. The stock traded as high as C$69.85 and last traded at C$68.26, with a volume of 60033 shares. The stock had previously closed at C$65.35.

The company reported C$0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of C$0.40 by C$0.48. Methanex had a return on equity of 12.35% and a net margin of 4.68%. The firm had revenue of C$1.23 billion for the quarter, compared to analysts’ expectations of C$1.23 billion.

Methanex Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a dividend of $0.245 per share. This represents a $0.98 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Wednesday, March 13th. Methanex’s dividend payout ratio (DPR) is presently 28.86%.

Methanex Trading Up 4.5 %

The company has a debt-to-equity ratio of 138.70, a current ratio of 1.14 and a quick ratio of 1.59. The business has a 50 day simple moving average of C$61.81 and a 200-day simple moving average of C$60.54. The stock has a market capitalization of C$4.60 billion, a price-to-earnings ratio of 18.67, a PEG ratio of 0.44 and a beta of 1.94.

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.