Methanex (NASDAQ:MEOH) Releases Quarterly Earnings Results, Beats Expectations By $0.13 EPS

Methanex (NASDAQ:MEOH) (TSE:MX) issued its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.49 by $0.13, Briefing.com reports. Methanex had a return on equity of 5.38% and a net margin of 4.63%. The company had revenue of $920.00 million for the quarter, compared to analyst estimates of $954.26 million. During the same period last year, the company earned $0.60 earnings per share. Methanex’s quarterly revenue was down 2.0% compared to the same quarter last year.

Methanex Stock Up 4.1 %

Shares of Methanex stock traded up $1.91 during midday trading on Wednesday, hitting $48.59. The company’s stock had a trading volume of 711,936 shares, compared to its average volume of 270,682. Methanex has a 1-year low of $38.31 and a 1-year high of $56.43. The company has a quick ratio of 0.85, a current ratio of 1.17 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $3.27 billion, a P/E ratio of 20.68 and a beta of 1.39. The stock has a 50-day simple moving average of $49.85 and a 200-day simple moving average of $47.65.

Methanex Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Monday, September 16th. Methanex’s dividend payout ratio is 31.36%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Scotiabank raised their price target on shares of Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 10th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a report on Friday, June 28th. UBS Group cut their price objective on shares of Methanex from $64.00 to $62.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Jefferies Financial Group upped their target price on shares of Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a research report on Monday, June 10th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $56.63.

Methanex Company Profile

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.