$0.50 Earnings Per Share Expected for Methanex Corporation (MEOH) This Quarter
Equities analysts predict that Methanex Corporation (NASDAQ:MEOH) (TSE:MX) will post earnings of $0.50 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Methanex Corporation’s earnings. The highest EPS estimate is $0.61 and the lowest is $0.39. Methanex Corporation reported earnings of ($0.01) per share in the same quarter last year, which indicates a positive year over year growth rate of 5,100%. The business is expected to announce its next quarterly earnings report on Wednesday, October 25th.
On average, analysts expect that Methanex Corporation will report full year earnings of $3.27 per share for the current financial year, with EPS estimates ranging from $2.90 to $3.64. For the next fiscal year, analysts anticipate that the business will post earnings of $3.32 per share, with EPS estimates ranging from $3.20 to $3.43. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Methanex Corporation.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.08 by $0.23. Methanex Corporation had a return on equity of 12.43% and a net margin of 8.92%. The business had revenue of $669 million during the quarter, compared to the consensus estimate of $772.41 million. During the same period in the prior year, the business earned ($0.34) EPS. The business’s revenue was up 42.9% on a year-over-year basis.
A number of research firms have commented on MEOH. Cowen and Company restated a “buy” rating and issued a $55.00 price target on shares of Methanex Corporation in a research report on Friday. Royal Bank Of Canada restated a “hold” rating on shares of Methanex Corporation in a research report on Friday, August 25th. BidaskClub upgraded shares of Methanex Corporation from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. TD Securities reduced their price target on shares of Methanex Corporation from $56.00 to $54.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Finally, Tudor Pickering lowered shares of Methanex Corporation from a “buy” rating to a “hold” rating and reduced their price target for the company from $52.00 to $46.00 in a research report on Friday, July 28th. Four research analysts have rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $56.80.
Shares of Methanex Corporation (MEOH) traded up 1.47% during trading on Tuesday, reaching $51.85. 819,915 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $45.42 and a 200-day moving average price of $45.21. The company has a market capitalization of $4.47 billion, a PE ratio of 20.18 and a beta of 1.78. Methanex Corporation has a 52-week low of $28.17 and a 52-week high of $53.35.
Methanex Corporation declared that its Board of Directors has initiated a share buyback program on Wednesday, July 26th that authorizes the company to buyback 1,660,000 outstanding shares. This buyback authorization authorizes the specialty chemicals company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Stockholders of record on Saturday, September 16th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.31%. Methanex Corporation’s payout ratio is 47.81%.
Several institutional investors have recently made changes to their positions in MEOH. Creative Planning raised its position in shares of Methanex Corporation by 7.6% in the first quarter. Creative Planning now owns 2,152 shares of the specialty chemicals company’s stock worth $101,000 after buying an additional 152 shares during the last quarter. Quantbot Technologies LP raised its position in shares of Methanex Corporation by 40.9% in the first quarter. Quantbot Technologies LP now owns 2,228 shares of the specialty chemicals company’s stock worth $104,000 after buying an additional 647 shares during the last quarter. FNY Partners Fund LP bought a new position in shares of Methanex Corporation during the first quarter worth about $117,000. Worth Venture Partners LLC bought a new position in shares of Methanex Corporation during the first quarter worth about $227,000. Finally, Turner Investments LLC bought a new position in shares of Methanex Corporation during the second quarter worth about $221,000. Institutional investors own 81.92% of the company’s stock.
Methanex Corporation Company Profile
Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.
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