Brokers Set Expectations for Methanex Co.’s Q3 2024 Earnings (TSE:MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Scotiabank boosted their Q3 2024 earnings per share estimates for Methanex in a research report issued on Tuesday, September 10th. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings per share of $0.76 for the quarter, up from their prior estimate of $0.70. The consensus estimate for Methanex’s current full-year earnings is $3.78 per share. Scotiabank also issued estimates for Methanex’s Q4 2024 earnings at $1.12 EPS, Q1 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.04 EPS and Q4 2025 earnings at $1.21 EPS.

Other analysts have also issued reports about the company. Piper Sandler upgraded Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays lowered Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday.

Methanex Stock Up 2.3 %

Shares of TSE:MX opened at C$50.77 on Friday. The stock has a market cap of C$3.42 billion, a price-to-earnings ratio of 17.63, a PEG ratio of 0.44 and a beta of 1.82. The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58. Methanex has a 12-month low of C$49.21 and a 12-month high of C$74.25. The business’s 50 day moving average is C$62.48 and its 200 day moving average is C$64.58.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its earnings results on Tuesday, July 30th. The company reported C$0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of C$0.66 by C$0.19. The company had revenue of C$1.26 billion for the quarter, compared to analysts’ expectations of C$1.35 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%.

Insider Buying and Selling at Methanex

In related news, Director Alejandro Larrive sold 1,000 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of C$67.17, for a total transaction of C$67,174.50. In related news, Director Dean Richardson acquired 1,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost of C$50.52 per share, for a total transaction of C$75,780.00. Also, Director Alejandro Larrive sold 1,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of C$67.17, for a total value of C$67,174.50. Insiders have bought a total of 2,100 shares of company stock worth $106,186 over the last ninety days. 0.33% of the stock is currently owned by company insiders.

Methanex Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.253 dividend. The ex-dividend date is Monday, September 16th. This is a positive change from Methanex’s previous quarterly dividend of $0.25. This represents a $1.01 annualized dividend and a dividend yield of 1.99%. Methanex’s payout ratio is presently 35.07%.

About Methanex

Methanex Corporation produces and supplies methanol in China, Europe, the United States, South America, South Korea, Canada, and Asia. The company also purchases methanol produced by others under methanol offtake contracts and on the spot market. In addition, it owns and leases storage and terminal facilities.