Methanex Co. (MEOH) Expected to Post Earnings of $2.02 Per Share

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Brokerages forecast that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will announce earnings per share of $2.02 for the current fiscal quarter, according to Zacks. Zero analysts have issued estimates for Methanex’s earnings, with the highest EPS estimate coming in at $2.02 and the lowest estimate coming in at $2.01. Methanex reported earnings per share of $0.60 in the same quarter last year, which would indicate a positive year-over-year growth rate of 236.7%. The company is expected to announce its next quarterly earnings results after the market closes on Wednesday, October 24th.

On average, analysts expect that Methanex will report full year earnings of $7.75 per share for the current financial year, with EPS estimates ranging from $7.74 to $7.75. For the next fiscal year, analysts expect that the firm will post earnings of $7.02 per share, with EPS estimates ranging from $6.40 to $7.63. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Methanex.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, July 25th. The specialty chemicals company reported $1.75 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.75. The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $872.10 million. Methanex had a return on equity of 28.64% and a net margin of 10.90%. The business’s quarterly revenue was up 42.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.85 earnings per share.

MEOH has been the subject of several research analyst reports. Raymond James raised Methanex from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $72.00 to $90.00 in a research note on Thursday, September 13th. Royal Bank of Canada boosted their target price on Methanex from $78.00 to $83.00 and gave the stock a “sector perform” rating in a research note on Monday, October 1st. BidaskClub raised Methanex from a “hold” rating to a “buy” rating in a research note on Saturday, September 15th. MED reissued a “buy” rating on shares of Methanex in a research note on Monday, August 6th. Finally, Citigroup set a $84.00 target price on Methanex and gave the stock a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. Methanex currently has a consensus rating of “Buy” and a consensus price target of $79.67.

NASDAQ MEOH traded up $1.28 during trading on Friday, hitting $75.06. 390,997 shares of the company’s stock were exchanged, compared to its average volume of 577,483. The company has a current ratio of 1.62, a quick ratio of 1.18 and a debt-to-equity ratio of 0.83. The company has a market cap of $6.24 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.82 and a beta of 1.55. Methanex has a fifty-two week low of $48.55 and a fifty-two week high of $83.23.

The company also recently declared a quarterly dividend, which was paid on Sunday, September 30th. Stockholders of record on Sunday, September 16th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.76%. The ex-dividend date was Thursday, September 13th. Methanex’s dividend payout ratio (DPR) is currently 28.03%.

Large investors have recently added to or reduced their stakes in the company. Mount Yale Investment Advisors LLC bought a new stake in shares of Methanex during the first quarter worth about $120,000. Cerebellum GP LLC bought a new stake in shares of Methanex during the third quarter worth about $188,000. Highstreet Asset Management Inc. bought a new stake in shares of Methanex during the second quarter worth about $183,000. Advisors Preferred LLC grew its holdings in shares of Methanex by 57.8% during the second quarter. Advisors Preferred LLC now owns 2,688 shares of the specialty chemicals company’s stock worth $190,000 after purchasing an additional 985 shares during the last quarter. Finally, One Capital Management LLC bought a new stake in shares of Methanex during the second quarter worth about $212,000. Institutional investors own 76.39% of the company’s stock.

About Methanex

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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