Methanex (NASDAQ:MEOH) Announces Earnings Results

Methanex (NASDAQ:MEOHGet Free Report) (TSE:MX) posted its quarterly earnings data on Tuesday. The specialty chemicals company reported $3.87 EPS for the quarter, missing the consensus estimate of $3.95 by ($0.08), FiscalAI reports. Methanex had a positive return on equity of 2.96% and a negative net margin of 1.25%.The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.43 billion.

Methanex Price Performance

MEOH traded down $0.98 during trading on Tuesday, reaching $53.20. 1,878,287 shares of the company traded hands, compared to its average volume of 1,119,653. The company has a market cap of $4.12 billion, a P/E ratio of -108.57 and a beta of 0.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.26 and a current ratio of 1.96. Methanex has a 12-month low of $32.00 and a 12-month high of $66.75. The firm has a fifty day simple moving average of $54.55 and a 200 day simple moving average of $54.28.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 16th. Methanex’s dividend payout ratio (DPR) is -151.02%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Wall Street Zen upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research note on Monday, July 20th. JPMorgan Chase & Co. lowered shares of Methanex from an “overweight” rating to a “neutral” rating and upped their price target for the stock from $56.00 to $65.00 in a research report on Friday, May 1st. Royal Bank Of Canada reduced their price objective on shares of Methanex from $70.00 to $65.00 and set a “sector perform” rating for the company in a research note on Wednesday, July 1st. Weiss Ratings downgraded shares of Methanex from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Canadian Imperial Bank of Commerce upgraded shares of Methanex from a “neutral” rating to a “sector outperform” rating and lifted their target price for the company from $69.00 to $71.00 in a research note on Monday, July 20th. Six equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Methanex presently has a consensus rating of “Hold” and an average price target of $69.00.

Get Our Latest Analysis on Methanex

Institutional Trading of Methanex

Institutional investors and hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC purchased a new stake in Methanex in the 2nd quarter worth $50,000. Parkside Financial Bank & Trust grew its position in shares of Methanex by 61.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,143 shares of the specialty chemicals company’s stock valued at $85,000 after purchasing an additional 812 shares in the last quarter. Barclays PLC increased its holdings in shares of Methanex by 115.3% in the fourth quarter. Barclays PLC now owns 4,199 shares of the specialty chemicals company’s stock worth $167,000 after purchasing an additional 2,249 shares during the last quarter. AXA S.A. bought a new stake in shares of Methanex in the second quarter worth about $166,000. Finally, Mariner LLC purchased a new stake in shares of Methanex in the fourth quarter worth about $207,000. 73.49% of the stock is currently owned by institutional investors.

About Methanex

(Get Free Report)

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).

See Also

Earnings History for Methanex (NASDAQ:MEOH)

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