Methanex (NASDAQ:MEOH – Get 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
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
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).
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