Zacks: Brokerages Anticipate Methanex Co. (MEOH) Will Post Earnings of $1.08 Per Share

Zacks: Brokerages Anticipate Methanex Co. (MEOH) Will Post Earnings of $1.08 Per Share

On average, analysts expect that Methanex will report full year earnings of $4.43 per share for the current financial year, with EPS estimates ranging from $3.86 to $5.00. For the next fiscal year, analysts anticipate that the company will report earnings of $4.88 per share, with EPS estimates ranging from $4.51 to $5.25. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Methanex.

Analysts predict that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will report earnings per share (EPS) of $1.08 for the current quarter, Zacks Investment Research reports. Zero analysts have made estimates for Methanex’s earnings, with estimates ranging from $0.84 to $1.32. Methanex posted earnings of ($0.26) per share in the same quarter last year, which suggests a positive year over year growth rate of 515.4%. The business is expected to announce its next quarterly earnings results on Wednesday, July 26th.

Methanex (NASDAQ:MEOH) last released its quarterly earnings results on Wednesday, April 26th. The specialty chemicals company reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.18. The business had revenue of $810 million during the quarter, compared to the consensus estimate of $833.32 million. Methanex had a negative return on equity of 1.82% and a negative net margin of 0.63%. The company’s quarterly revenue was up 86.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS.

A number of brokerages recently weighed in on MEOH. CIBC upgraded shares of Methanex from a “sector perform” rating to a “sector outperform” rating and lifted their price objective for the company from $45.00 to $56.00 in a report on Wednesday, March 29th. TheStreet upgraded shares of Methanex from a “c” rating to a “b” rating in a report on Tuesday, May 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $60.00 price objective on shares of Methanex in a report on Monday, February 27th. Sanford C. Bernstein began coverage on shares of Methanex in a report on Wednesday, May 10th. They set an “underperform” rating and a $36.00 price objective for the company. Finally, Scotiabank reiterated a “sector perform” rating and set a $71.00 price objective on shares of Methanex in a report on Friday, April 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $58.33.

Methanex (NASDAQ MEOH) traded up 0.73% during trading on Thursday, reaching $41.55. The company’s stock had a trading volume of 122,846 shares. Methanex has a one year low of $26.83 and a one year high of $53.35. The firm has a market cap of $3.67 billion, a PE ratio of 26.21 and a beta of 1.91. The company has a 50-day moving average of $44.14 and a 200 day moving average of $45.75.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.91%. The ex-dividend date is Wednesday, June 14th. This is an increase from Methanex’s previous quarterly dividend of $0.28. Methanex’s payout ratio is currently -846.15%.

A number of hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Methanex by 1,228.6% in the fourth quarter. FMR LLC now owns 2,566,902 shares of the specialty chemicals company’s stock valued at $112,587,000 after buying an additional 2,373,698 shares in the last quarter. Boston Partners increased its stake in Methanex by 45.2% in the first quarter. Boston Partners now owns 4,073,684 shares of the specialty chemicals company’s stock valued at $191,056,000 after buying an additional 1,269,029 shares in the last quarter. Norges Bank bought a new stake in Methanex during the fourth quarter valued at $34,961,000. FIL Ltd increased its stake in Methanex by 200.5% in the fourth quarter. FIL Ltd now owns 1,168,894 shares of the specialty chemicals company’s stock valued at $51,198,000 after buying an additional 779,881 shares in the last quarter. Finally, Morgan Stanley increased its stake in Methanex by 337.8% in the first quarter. Morgan Stanley now owns 452,878 shares of the specialty chemicals company’s stock valued at $21,240,000 after buying an additional 349,445 shares in the last quarter. 86.42% of the stock is currently owned by institutional investors.

About Methanex

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MEOH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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