Methanex (NASDAQ:MEOH) Issues Earnings Results

Methanex (NASDAQ:MEOH) (TSE:MX) released its quarterly earnings results on Thursday. The specialty chemicals company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.95), Briefing.com reports. Methanex had a net margin of 5.97% and a return on equity of 9.07%. During the same period in the previous year, the firm posted $1.24 earnings per share. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year.

Methanex Stock Performance

NASDAQ:MEOH opened at $57.05 on Friday. Methanex has a fifty-two week low of $25.46 and a fifty-two week high of $57.43. The firm has a market cap of $4.41 billion, a PE ratio of 19.34 and a beta of 0.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09. The business has a 50 day moving average price of $47.26 and a 200-day moving average price of $40.67.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, March 17th. Methanex’s dividend payout ratio is 25.08%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Royal Bank Of Canada lifted their target price on shares of Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Zacks Research upgraded Methanex from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 27th. Scotiabank reiterated an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. Raymond James Financial cut Methanex from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Methanex in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $48.70.

Hedge Funds Weigh In On Methanex

Several hedge funds have recently made changes to their positions in MEOH. NewEdge Advisors LLC raised its holdings in shares of Methanex by 33.3% during the third quarter. NewEdge Advisors LLC now owns 2,000 shares of the specialty chemicals company’s stock valued at $80,000 after acquiring an additional 500 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Methanex by 61.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock worth $85,000 after purchasing an additional 812 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Methanex by 8.2% in the 4th quarter. Franklin Resources Inc. now owns 10,706 shares of the specialty chemicals company’s stock worth $425,000 after purchasing an additional 813 shares during the period. Amundi boosted its stake in shares of Methanex by 3.9% during the 1st quarter. Amundi now owns 22,791 shares of the specialty chemicals company’s stock valued at $800,000 after purchasing an additional 848 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Methanex by 4.5% during the third quarter. Ameriprise Financial Inc. now owns 20,636 shares of the specialty chemicals company’s stock valued at $820,000 after buying an additional 898 shares during the period. 73.49% of the stock is owned by hedge funds and other institutional investors.

Methanex Company Profile

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).