Q3 2024 Earnings Estimate for Methanex Co. (TSE:MX) Issued By Raymond James

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Raymond James upped their Q3 2024 earnings estimates for shares of Methanex in a report issued on Tuesday, September 10th. Raymond James analyst S. Hansen now anticipates that the company will post earnings per share of $0.71 for the quarter, up from their prior forecast of $0.55. The consensus estimate for Methanex’s current full-year earnings is $3.78 per share. Raymond James also issued estimates for Methanex’s Q4 2024 earnings at $1.52 EPS, FY2025 earnings at $6.64 EPS and FY2026 earnings at $7.94 EPS.

Several other equities analysts also recently commented on MX. Barclays downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Piper Sandler upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th.

Methanex Stock Performance

TSE:MX opened at C$50.77 on Friday. The company has a fifty day simple moving average of C$62.48 and a two-hundred day simple moving average of C$64.58. The company has a market cap of C$3.42 billion, a price-to-earnings ratio of 17.63, a price-to-earnings-growth 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 52 week low of C$49.21 and a 52 week high of C$74.25.

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

Methanex Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a dividend of $0.253 per share. This is a boost from Methanex’s previous quarterly dividend of $0.25. This represents a $1.01 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Monday, September 16th. Methanex’s payout ratio is 35.07%.

Insider Transactions at Methanex

In other news, Director Dean Richardson acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of C$50.52 per share, with a total value of C$75,780.00. In other news, Director Dean Richardson acquired 1,500 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was acquired at an average cost of C$50.52 per share, with a total value of C$75,780.00. Also, Director Alejandro Larrive sold 1,000 shares of Methanex stock in a transaction on Friday, June 28th. The stock was sold at an average price of C$66.00, for a total transaction of C$66,003.30. In the last three months, insiders bought 2,100 shares of company stock valued at $106,186. Insiders own 0.33% of the company’s stock.

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.