Methanex (NASDAQ:MEOH) Issues Earnings Results, Beats Expectations By $0.10 EPS

Methanex (NASDAQ:MEOH) (TSE:MX) announced its quarterly earnings data on Tuesday. The specialty chemicals company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.10, Briefing.com reports. Methanex had a return on equity of 5.47% and a net margin of 4.05%. The business had revenue of $920.00 million for the quarter, compared to analysts’ expectations of $954.26 million. During the same period in the previous year, the business posted $0.60 EPS. The firm’s quarterly revenue was down 2.0% compared to the same quarter last year.

Methanex Trading Down 6.9 %

MEOH traded down $3.16 on Friday, hitting $42.63. 264,783 shares of the company were exchanged, compared to its average volume of 270,813. The firm has a fifty day simple moving average of $49.65 and a two-hundred day simple moving average of $47.65. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.85 and a current ratio of 1.17. Methanex has a 12 month low of $38.31 and a 12 month high of $56.43. The stock has a market capitalization of $2.87 billion, a PE ratio of 17.73 and a beta of 1.39.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.185 per share. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.74 annualized dividend and a yield of 1.74%. Methanex’s payout ratio is 31.36%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MEOH shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $55.00 price target on shares of Methanex in a research report on Thursday. Scotiabank upped their price target on Methanex from $58.00 to $60.00 and gave the company a “sector outperform” rating in a research report on Wednesday, July 10th. UBS Group cut their price objective on Methanex from $64.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on Methanex from $56.00 to $60.00 and gave the stock a “buy” rating in a report on Monday, June 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.