Methanex (NASDAQ:MEOH) Releases Quarterly Earnings Results, Beats Estimates By $0.30 EPS

Methanex (NASDAQ:MEOH) (TSE:MX) issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.30, Zacks reports. Methanex had a return on equity of 11.10% and a net margin of 4.41%.

Methanex Stock Up 1.1 %

Shares of NASDAQ:MEOH traded up $0.57 during midday trading on Friday, hitting $52.33. The stock had a trading volume of 101,209 shares, compared to its average volume of 380,528. The company has a market cap of $3.53 billion, a P/E ratio of 22.63 and a beta of 1.37. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The business’s 50-day simple moving average is $48.33 and its 200-day simple moving average is $44.96. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.41%. Methanex’s dividend payout ratio is currently 32.03%.

Analysts Set New Price Targets

A number of research analysts have weighed in on MEOH shares. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Raymond James upped their target price on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. UBS Group dropped their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Piper Sandler upped their price objective on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Finally, Scotiabank lifted their target price on Methanex from $60.00 to $66.00 and gave the company a “sector outperform” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.75.

Methanex Company Profile

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.