Methanex (MEOH) Set to Announce Earnings on Wednesday

Methanex (NASDAQ:MEOH) (TSE:MX) is scheduled to release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Methanex to post earnings of $0.28 per share for the quarter. Parties that are interested in registering for the company’s conference call can do so using this link.

Methanex (NASDAQ:MEOH) (TSE:MX) last issued its earnings results on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.24. The company had revenue of $922.00 million during the quarter, compared to analysts’ expectations of $901.21 million. Methanex had a return on equity of 6.71% and a net margin of 4.67%. On average, analysts expect Methanex to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Methanex Trading Down 0.0 %

MEOH opened at $47.52 on Wednesday. The business has a 50 day simple moving average of $45.27 and a two-hundred day simple moving average of $44.50. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 19.32 and a beta of 1.51. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.14 and a quick ratio of 0.81. Methanex has a one year low of $38.18 and a one year high of $51.42.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Wednesday, March 13th. Methanex’s dividend payout ratio is currently 30.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of MEOH. Goldman Sachs Group Inc. increased its holdings in Methanex by 113.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 224,202 shares of the specialty chemicals company’s stock valued at $10,618,000 after purchasing an additional 118,920 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Methanex by 9.8% during the fourth quarter. Legal & General Group Plc now owns 81,603 shares of the specialty chemicals company’s stock worth $3,879,000 after purchasing an additional 7,304 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Methanex by 21.1% during the fourth quarter. Vanguard Group Inc. now owns 2,443,939 shares of the specialty chemicals company’s stock worth $115,745,000 after purchasing an additional 425,104 shares in the last quarter. Vident Advisory LLC grew its stake in shares of Methanex by 96.0% during the fourth quarter. Vident Advisory LLC now owns 11,474 shares of the specialty chemicals company’s stock worth $543,000 after purchasing an additional 5,619 shares in the last quarter. Finally, Nuveen Asset Management LLC purchased a new stake in Methanex in the fourth quarter valued at $2,450,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. TheStreet upgraded Methanex from a “c” rating to a “b-” rating in a research note on Thursday, January 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $45.00 price objective on shares of Methanex in a research report on Wednesday, April 3rd. Piper Sandler restated a “neutral” rating and issued a $50.00 price objective on shares of Methanex in a research report on Thursday, March 7th. Barclays boosted their price objective on Methanex from $53.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, February 12th. Finally, UBS Group raised Methanex from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $60.00 in a research note on Thursday, February 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and an average price target of $53.50.

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.