Scotiabank Has Strong Forecast for Methanex FY2027 Earnings

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Scotiabank raised their FY2027 earnings estimates for shares of Methanex in a research report issued on Wednesday, July 15th. Scotiabank analyst B. Isaacson now anticipates that the company will post earnings of $8.16 per share for the year, up from their previous forecast of $7.90. The consensus estimate for Methanex’s current full-year earnings is $5.95 per share.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share (EPS) for the quarter. The company had revenue of C$1.35 billion during the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.

MX has been the topic of several other research reports. National Bank Financial upgraded shares of Methanex to a “strong-buy” rating in a research note on Monday. Royal Bank Of Canada cut shares of Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of C$60.00.

Methanex Stock Performance

MX stock opened at C$74.69 on Friday. The company has a debt-to-equity ratio of 143.44, a quick ratio of 1.59 and a current ratio of 1.96. The stock has a market cap of C$5.78 billion, a P/E ratio of -102.32, a P/E/G ratio of 0.44 and a beta of 0.63. The firm has a 50 day simple moving average of C$77.64 and a 200 day simple moving average of C$73.99. Methanex has a 52 week low of C$44.57 and a 52 week high of C$92.97.

Insider Activity

In related news, insider Kyung Wan (Fred) Lee sold 7,975 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of C$88.02, for a total transaction of C$701,959.50. Following the transaction, the insider owned 5,025 shares of the company’s stock, valued at approximately C$442,300.50. This trade represents a 61.35% decrease in their ownership of the stock. Also, insider Sunil Jagwani purchased 745 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were acquired at an average price of C$82.36 per share, for a total transaction of C$61,358.20. Following the acquisition, the insider directly owned 2,600,200 shares in the company, valued at C$214,152,472. This represents a 0.03% increase in their position. In the last three months, insiders bought 278,000 shares of company stock worth $23,636,345 and sold 13,475 shares worth $1,175,470. 0.35% of the stock is owned by corporate insiders.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.