Methanex (NASDAQ:MEOH) Posts Earnings Results, Beats Estimates By $0.85 EPS

Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) released its quarterly earnings results on Thursday. The specialty chemicals company reported $3.69 EPS for the quarter, topping the consensus estimate of $2.84 by $0.85, Zacks reports. Methanex had a return on equity of 11.35% and a net margin of 2.07%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 49.7% compared to the same quarter last year.

Methanex Trading Up 12.7%

Shares of MEOH stock traded up $7.97 on Friday, hitting $70.73. 1,181,401 shares of the stock traded hands, compared to its average volume of 991,456. The firm’s 50-day moving average price is $60.91 and its two-hundred day moving average price is $56.17. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.35 and a current ratio of 2.07. The stock has a market capitalization of $5.47 billion, a PE ratio of 68.56 and a beta of 0.71. Methanex has a twelve month low of $34.01 and a twelve month high of $70.48.

Analysts Set New Price Targets

Several research firms have weighed in on MEOH. Zacks Research upgraded Methanex from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 15th. Wall Street Zen raised Methanex from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 3rd. Raymond James Financial lifted their price target on Methanex from $65.00 to $72.00 and gave the company a “market perform” rating in a research report on Monday. Weiss Ratings upgraded shares of Methanex from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, October 12th. Finally, UBS Group boosted their price objective on Methanex from $71.00 to $74.00 and gave the company a “buy” rating in a research report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

View Our Latest Analysis on MEOH

Methanex Company Profile

(Get Free Report)

Methanex Corporation is a global producer and supplier of methanol, a clear, biodegradable liquid chemical used in a wide range of industrial and consumer applications. The company markets methanol to customers worldwide and supports distribution through a global network of production facilities, storage terminals and transportation infrastructure.

Methanol is used to manufacture formaldehyde, acetic acid, solvents, adhesives, plastics and other chemical products. It is also used in fuel applications, including as a blending component, a feedstock for biodiesel and in the production of olefins and other alternative fuels.

Founded in 1992 and headquartered in Vancouver, British Columbia, Methanex operates production facilities and related assets in several regions, including North America, South America and New Zealand.

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Earnings History for Methanex (NASDAQ:MEOH)

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