Scotiabank Issues Optimistic Estimate for Methanex Earnings

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Scotiabank increased their FY2027 EPS estimates for Methanex in a report released on Wednesday, July 15th. Scotiabank analyst B. Isaacson now expects that the company will post earnings of $8.16 per share for the year, up from their previous estimate of $7.90. The consensus estimate for Methanex’s current full-year earnings is $5.95 per share.

Other research analysts also recently issued reports about the stock. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a report on Monday, July 13th. Royal Bank Of Canada lowered Methanex from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of C$60.00.

Methanex Stock Up 2.7%

MX stock opened at C$76.73 on Friday. The company has a market capitalization of C$5.94 billion, a price-to-earnings ratio of -105.11, a PEG ratio of 0.44 and a beta of 0.63. Methanex has a fifty-two week low of C$44.57 and a fifty-two week high of C$92.97. The company has a debt-to-equity ratio of 143.44, a quick ratio of 1.59 and a current ratio of 1.96. The stock has a fifty day moving average of C$77.53 and a 200-day moving average of C$74.01.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Wednesday, April 29th. The company reported C$0.42 earnings per share for the quarter. Methanex had a negative net margin of 1.26% and a negative return on equity of 1.84%. The firm had revenue of C$1.35 billion for the quarter.

Insider Transactions at Methanex

In other Methanex news, insider Sunil Jagwani bought 745 shares of the business’s stock in a transaction that occurred on Friday, May 29th. The shares were bought at an average cost of C$82.36 per share, with a total value of C$61,358.20. Following the completion of the purchase, the insider directly owned 2,600,200 shares of the company’s stock, valued at C$214,152,472. This trade represents a 0.03% increase in their ownership of the stock. Also, insider Sergio Almarza sold 1,000 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of C$86.24, for a total value of C$86,240.00. Following the completion of the sale, the insider owned 16,070 shares of the company’s stock, valued at approximately C$1,385,876.80. This trade represents a 5.86% decrease in their position. Over the last ninety days, insiders bought 278,000 shares of company stock worth $23,636,345 and sold 13,475 shares worth $1,175,470. 0.35% of the stock is currently owned by company insiders.

Methanex Company Profile

Methanex Corp manufactures and sells methanol. Methanex’s customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.