Methanex (NASDAQ:MEOH) Posts Earnings Results

Methanex (NASDAQ:MEOH) (TSE:MX) issued its earnings results on Wednesday. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.30, Zacks reports. Methanex had a net margin of 4.12% and a return on equity of 9.04%.

Methanex Price Performance

Shares of MEOH stock traded up $0.81 during trading on Wednesday, hitting $49.85. The company had a trading volume of 525,784 shares, compared to its average volume of 365,566. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 23.29 and a beta of 1.37. 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 has a 52 week low of $36.13 and a 52 week high of $56.43. The stock’s 50-day moving average is $48.09 and its two-hundred day moving average is $44.88.

Methanex Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were paid a $0.185 dividend. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.48%. Methanex’s dividend payout ratio (DPR) is presently 34.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MEOH. Piper Sandler upped their target price on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Raymond James lifted their price objective on Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research report on Monday, January 6th. CIBC reaffirmed an “outperformer” rating and issued a $59.00 price target (up previously from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Finally, Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, December 10th. Two 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.00.

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.