Methanex Corporation (MEOH) Scheduled to Post Quarterly Earnings on Wednesday
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) will be issuing its quarterly earnings data after the market closes on Wednesday, October 25th. Analysts expect the company to announce earnings of $0.55 per share for the quarter.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, July 26th. The specialty chemicals company reported $0.85 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $669.00 million during the quarter, compared to analysts’ expectations of $772.41 million. During the same quarter last year, the business earned ($0.34) earnings per share. The business’s quarterly revenue was up 42.9% on a year-over-year basis. On average, analysts expect Methanex Corporation to post $3.5 EPS for the current fiscal year and $3.57 EPS for the next fiscal year.
Shares of Methanex Corporation (NASDAQ MEOH) opened at 49.40 on Wednesday. The firm has a 50-day moving average of $50.72 and a 200 day moving average of $45.77. Methanex Corporation has a one year low of $34.45 and a one year high of $53.35. The stock has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.22 and a beta of 1.76.
Methanex Corporation announced that its Board of Directors has authorized a stock repurchase program on Wednesday, July 26th that allows the company to repurchase 1,660,000 shares. This repurchase authorization allows the specialty chemicals company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Saturday, September 16th were given a $0.30 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.20 annualized dividend and a yield of 2.43%. Methanex Corporation’s dividend payout ratio (DPR) is 47.81%.
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Several equities research analysts have recently weighed in on the stock. Jefferies Group LLC upped their price target on shares of Methanex Corporation to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, September 12th. Cowen and Company set a $60.00 price target on shares of Methanex Corporation and gave the stock a “buy” rating in a research report on Friday, July 28th. BMO Capital Markets reaffirmed a “buy” rating on shares of Methanex Corporation in a research report on Friday, June 30th. BidaskClub raised shares of Methanex Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Royal Bank Of Canada lowered their price target on shares of Methanex Corporation from $54.00 to $50.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 18th. Three analysts have rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $56.73.
About Methanex Corporation
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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