$1.78 Earnings Per Share Expected for Methanex Co. (MEOH) This Quarter

Equities research analysts forecast that Methanex Co. (NASDAQ:MEOH) (TSE:MX) will announce earnings of $1.78 per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Methanex’s earnings, with the highest EPS estimate coming in at $2.11 and the lowest estimate coming in at $1.45. Methanex posted earnings per share of $1.70 during the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The company is scheduled to issue its next earnings report on Wednesday, January 30th.

On average, analysts expect that Methanex will report full-year earnings of $7.48 per share for the current financial year, with EPS estimates ranging from $7.15 to $7.81. For the next financial year, analysts forecast that the company will post earnings of $7.54 per share, with EPS estimates ranging from $6.00 to $9.07. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Methanex.

Methanex (NASDAQ:MEOH) (TSE:MX) last released its earnings results on Wednesday, October 24th. The specialty chemicals company reported $1.92 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.07). The company had revenue of $1.04 billion for the quarter. Methanex had a return on equity of 34.25% and a net margin of 12.48%.

Several research firms have recently commented on MEOH. ValuEngine downgraded shares of Methanex from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Monness Crespi & Hardt upped their price objective on shares of Methanex from $75.00 to $86.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. TD Securities raised shares of Methanex from a “hold” rating to a “buy” rating and set a $77.00 price objective on the stock in a report on Friday, October 26th. They noted that the move was a valuation call. Citigroup dropped their price objective on shares of Methanex from $84.00 to $72.00 and set a “hold” rating on the stock in a report on Monday, October 29th. Finally, Cowen upped their price objective on shares of Methanex from $80.00 to $89.00 and gave the company an “outperform” rating in a report on Monday, October 15th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Methanex has an average rating of “Hold” and a consensus price target of $81.07.

A number of hedge funds and other institutional investors have recently made changes to their positions in MEOH. Canada Pension Plan Investment Board boosted its holdings in Methanex by 60.1% during the second quarter. Canada Pension Plan Investment Board now owns 601,759 shares of the specialty chemicals company’s stock worth $42,525,000 after buying an additional 226,000 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Methanex by 173.8% during the second quarter. Janus Henderson Group PLC now owns 350,291 shares of the specialty chemicals company’s stock worth $24,753,000 after buying an additional 222,338 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Methanex by 9.0% during the third quarter. AQR Capital Management LLC now owns 2,441,352 shares of the specialty chemicals company’s stock worth $192,573,000 after buying an additional 200,663 shares in the last quarter. Strs Ohio purchased a new stake in Methanex during the second quarter worth $13,345,000. Finally, Renaissance Technologies LLC boosted its holdings in Methanex by 113.0% during the third quarter. Renaissance Technologies LLC now owns 246,598 shares of the specialty chemicals company’s stock worth $19,506,000 after buying an additional 130,800 shares in the last quarter. 71.15% of the stock is currently owned by hedge funds and other institutional investors.

MEOH stock opened at $51.35 on Friday. The firm has a market capitalization of $4.00 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 0.53 and a beta of 1.58. The company has a current ratio of 1.70, a quick ratio of 1.27 and a debt-to-equity ratio of 0.82. Methanex has a 12 month low of $51.17 and a 12 month high of $83.23.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend is Friday, December 14th. Methanex’s dividend payout ratio (DPR) is presently 28.03%.

Methanex Company Profile

Methanex Corporation produces and sells methanol in North America, the Asia Pacific, Europe, and South America. It also purchases and sells methanol produced by others under methanol offtake contracts and on the spot market. The company was founded in 1968 and is headquartered in Vancouver, Canada.

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Earnings History and Estimates for Methanex (NASDAQ:MEOH)

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