Methanex (TSE:MX) Issues Quarterly Earnings Results, Beats Estimates By $1.05 EPS

Methanex (TSE:MX) (NASDAQ:MEOH) released its earnings results on Wednesday. The company reported C$1.65 EPS for the quarter, topping analysts’ consensus estimates of C$0.60 by C$1.05, reports. The firm had revenue of C$1.28 billion during the quarter, compared to analyst estimates of C$1.26 billion. Methanex had a net margin of 4.06% and a return on equity of 10.21%.

Methanex Price Performance

Shares of TSE:MX traded up C$0.12 during trading on Friday, reaching C$58.06. 3,707 shares of the company traded hands, compared to its average volume of 107,945. 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. The firm has a market capitalization of C$3.91 billion, a PE ratio of 19.91, a PEG ratio of 0.44 and a beta of 1.79. The company’s 50 day moving average is C$56.33 and its two-hundred day moving average is C$63.06.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Barclays lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 10th. Tudor Pickering upgraded Methanex to a “strong-buy” rating in a report on Wednesday, September 11th. Finally, Piper Sandler raised Methanex from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 7th.

Insider Buying and Selling

In related news, Director Leslie O’donoghue purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average cost of C$54.75 per share, with a total value of C$136,876.00. In other news, Director Dean Richardson purchased 1,500 shares of the stock in a transaction on Thursday, September 12th. The stock was purchased at an average price of C$50.52 per share, for a total transaction of C$75,780.00. Also, Director Leslie O’donoghue purchased 2,500 shares of the firm’s stock in a transaction on Tuesday, September 24th. The shares were acquired at an average price of C$54.75 per share, with a total value of C$136,876.00. Insiders bought 4,953 shares of company stock valued at $262,064 over the last quarter. 0.35% of the stock is owned by company insiders.

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.