$0.55 Earnings Per Share Expected for Methanex Corporation (MEOH) This Quarter
Wall Street analysts expect Methanex Corporation (NASDAQ:MEOH) (TSE:MX) to report earnings of $0.55 per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Methanex Corporation’s earnings, with the lowest EPS estimate coming in at $0.42 and the highest estimate coming in at $0.67. Methanex Corporation posted earnings per share of ($0.01) in the same quarter last year, which would indicate a positive year over year growth rate of 5,600%. The company is expected to announce its next quarterly earnings report after the market closes on Wednesday, October 25th.
On average, analysts expect that Methanex Corporation will report full year earnings of $3.52 per share for the current fiscal year, with EPS estimates ranging from $3.25 to $3.79. For the next financial year, analysts expect that the company will post earnings of $3.50 per share, with EPS estimates ranging from $3.20 to $3.80. Zacks’ EPS calculations are an average based on a survey of research firms that follow Methanex Corporation.
Methanex Corporation (NASDAQ:MEOH) (TSE:MX) last announced its earnings results on Wednesday, July 26th. The specialty chemicals company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.23). Methanex Corporation had a net margin of 8.92% and a return on equity of 12.43%. The business had revenue of $669.00 million during the quarter, compared to analysts’ expectations of $772.41 million. During the same period in the previous year, the company posted ($0.34) earnings per share. Methanex Corporation’s quarterly revenue was up 42.9% on a year-over-year basis.
A number of research analysts recently commented on MEOH shares. Monness Crespi & Hardt decreased their target price on Methanex Corporation from $62.00 to $59.00 and set a “buy” rating on the stock in a research report on Friday, July 28th. Alembic Global Advisors set a $65.00 price objective on Methanex Corporation and gave the stock a “buy” rating in a research note on Thursday, July 27th. Cowen and Company set a $60.00 price objective on Methanex Corporation and gave the stock a “buy” rating in a research note on Friday, July 28th. BMO Capital Markets reaffirmed a “buy” rating on shares of Methanex Corporation in a research note on Friday, June 30th. Finally, ValuEngine raised Methanex Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 16th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $56.27.
Methanex Corporation (NASDAQ:MEOH) traded down 1.022% during mid-day trading on Thursday, hitting $50.825. 170,422 shares of the stock traded hands. The firm has a market cap of $4.38 billion, a PE ratio of 19.776 and a beta of 1.76. Methanex Corporation has a 12-month low of $34.45 and a 12-month high of $53.35. The stock has a 50 day moving average price of $49.49 and a 200 day moving average price of $45.52.
Methanex Corporation declared that its Board of Directors has approved a share repurchase plan on Wednesday, July 26th that permits the company to buyback 1,660,000 outstanding shares. This buyback authorization permits the specialty chemicals company to reacquire shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Saturday, September 30th. Shareholders of record on Saturday, September 16th were paid a $0.30 dividend. The ex-dividend date was Thursday, September 14th. This represents a $1.20 dividend on an annualized basis and a yield of 2.34%. Methanex Corporation’s dividend payout ratio (DPR) is presently 47.81%.
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A number of institutional investors and hedge funds have recently modified their holdings of MEOH. Quantbot Technologies LP raised its holdings in shares of Methanex Corporation by 40.9% in the 1st quarter. Quantbot Technologies LP now owns 2,228 shares of the specialty chemicals company’s stock valued at $104,000 after acquiring an additional 647 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Methanex Corporation in the 1st quarter valued at about $117,000. Turner Investments LLC purchased a new stake in shares of Methanex Corporation in the 2nd quarter valued at about $221,000. Korea Investment CORP raised its holdings in shares of Methanex Corporation by 1.8% in the 2nd quarter. Korea Investment CORP now owns 5,659 shares of the specialty chemicals company’s stock valued at $249,000 after acquiring an additional 101 shares in the last quarter. Finally, Comerica Bank raised its holdings in shares of Methanex Corporation by 3.1% in the 1st quarter. Comerica Bank now owns 5,892 shares of the specialty chemicals company’s stock valued at $264,000 after acquiring an additional 178 shares in the last quarter. 81.91% of the stock is currently owned by institutional investors and hedge funds.
Methanex Corporation Company Profile
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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