Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Stock analysts at Jefferies Group increased their Q2 2018 earnings per share estimates for Methanex in a research report issued to clients and investors on Wednesday. Jefferies Group analyst L. Alexander now expects that the specialty chemicals company will post earnings per share of $1.54 for the quarter, up from their prior forecast of $1.48. Jefferies Group has a “Buy” rating and a $72.00 price target on the stock. Jefferies Group also issued estimates for Methanex’s FY2018 earnings at $5.40 EPS.

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Other equities analysts also recently issued reports about the company. Royal Bank of Canada reiterated a “hold” rating and issued a $63.00 target price on shares of Methanex in a research report on Friday, December 22nd. Cowen reiterated an “outperform” rating and issued a $69.00 target price (up from $65.00) on shares of Methanex in a research report on Wednesday, January 10th. Raymond James Financial increased their target price on Methanex from $60.00 to $63.50 and gave the company a “market perform” rating in a research report on Friday, February 2nd. BidaskClub upgraded Methanex from a “hold” rating to a “buy” rating in a research report on Friday. Finally, Scotiabank restated a “hold” rating and set a $67.50 price objective on shares of Methanex in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $59.00.

Methanex (NASDAQ:MEOH) opened at $58.70 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.66 and a quick ratio of 1.25. The company has a market capitalization of $5,077.25, a PE ratio of 12.87, a price-to-earnings-growth ratio of 0.66 and a beta of 1.79. Methanex has a 1 year low of $39.47 and a 1 year high of $64.60.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, beating the consensus estimate of $1.19 by $0.51. The firm had revenue of $861.00 million during the quarter, compared to the consensus estimate of $796.57 million. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The business’s quarterly revenue was up 47.2% on a year-over-year basis. During the same period last year, the company earned $0.46 earnings per share.

Methanex announced that its board has approved a stock repurchase program on Monday, March 5th that allows the company to buyback 6,590,000 shares. This buyback authorization allows the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, March 31st. Stockholders of record on Saturday, March 17th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.25%. This is an increase from Methanex’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, March 15th. Methanex’s dividend payout ratio (DPR) is 37.29%.

Institutional investors and hedge funds have recently modified their holdings of the company. ETRADE Capital Management LLC acquired a new stake in Methanex during the third quarter worth approximately $241,000. FineMark National Bank & Trust acquired a new stake in Methanex during the fourth quarter worth approximately $253,000. FNY Partners Fund LP acquired a new stake in Methanex during the fourth quarter worth approximately $302,000. Trexquant Investment LP acquired a new stake in Methanex during the third quarter worth approximately $388,000. Finally, AXA acquired a new stake in Methanex during the fourth quarter worth approximately $442,000. Institutional investors own 80.18% of the company’s stock.

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About Methanex

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.

Earnings History and Estimates for Methanex (NASDAQ:MEOH)

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