Scotiabank Weighs in on Methanex’s FY2024 Earnings (TSE:MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Equities research analysts at Scotiabank raised their FY2024 earnings per share (EPS) estimates for shares of Methanex in a research note issued on Wednesday, January 8th. Scotiabank analyst B. Isaacson now expects that the company will post earnings of $5.11 per share for the year, up from their prior estimate of $3.51. The consensus estimate for Methanex’s current full-year earnings is $5.95 per share.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of C$0.60 by C$1.05. The firm had revenue of C$1.28 billion for the quarter, compared to the consensus estimate of C$1.26 billion. Methanex had a net margin of 4.06% and a return on equity of 10.21%.

Separately, Cibc World Mkts upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

Methanex Trading Up 0.4 %

Shares of MX stock opened at C$69.99 on Friday. The company has a market capitalization of C$4.72 billion, a PE ratio of 24.05, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. Methanex has a 52-week low of C$49.21 and a 52-week high of C$74.25. The business’s fifty day moving average is C$64.98 and its 200 day moving average is C$62.22. The company has a debt-to-equity ratio of 131.58, a quick ratio of 1.59 and a current ratio of 1.25.

Insiders Place Their Bets

In other Methanex news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of C$65.39, for a total value of C$504,818.52. Corporate insiders own 0.35% of the company’s stock.

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.