Methanex (NASDAQ:MEOH) Posts Earnings Results

Methanex (NASDAQ:MEOH) (TSE:MX) announced its earnings results on Wednesday. The specialty chemicals company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.16), reports. Methanex had a return on equity of 24.89% and a net margin of 11.84%. The business had revenue of $734.00 million for the quarter, compared to analyst estimates of $719.86 million. During the same quarter in the previous year, the company earned $1.75 EPS. The business’s revenue for the quarter was down 22.7% on a year-over-year basis.

NASDAQ:MEOH traded down $1.76 on Friday, hitting $34.21. The company had a trading volume of 474,954 shares, compared to its average volume of 419,401. The stock has a market cap of $3.02 billion, a PE ratio of 4.99, a price-to-earnings-growth ratio of 1.03 and a beta of 1.69. The company has a quick ratio of 0.77, a current ratio of 1.08 and a debt-to-equity ratio of 0.90. The company’s 50 day moving average price is $43.47. Methanex has a 52 week low of $33.86 and a 52 week high of $83.23.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend is Friday, September 13th. Methanex’s payout ratio is 20.99%.

A number of analysts have recently weighed in on MEOH shares. BMO Capital Markets cut their price target on shares of Methanex from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, June 28th. ValuEngine downgraded shares of Methanex from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. TD Securities cut their price target on shares of Methanex from $58.00 to $52.00 and set a “buy” rating for the company in a report on Friday. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $69.00 price target (down previously from $77.00) on shares of Methanex in a report on Thursday, June 27th. Finally, Barclays set a $53.00 price target on shares of Methanex and gave the stock a “hold” rating in a report on Monday, June 24th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $65.81.

Methanex Company Profile

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. It also purchases 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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Earnings History for Methanex (NASDAQ:MEOH)

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