Methanex (NASDAQ:MEOH) Posts Earnings Results, Beats Expectations By $0.30 EPS

Methanex (NASDAQ:MEOH) (TSE:MX) issued its earnings results on Wednesday. The specialty chemicals company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.94 by $0.30, Zacks reports. Methanex had a net margin of 4.12% and a return on equity of 9.04%.

Methanex Price Performance

NASDAQ:MEOH opened at $52.34 on Thursday. The firm has a market capitalization of $3.53 billion, a price-to-earnings ratio of 24.33 and a beta of 1.37. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The business has a 50 day simple moving average of $48.09 and a 200-day simple moving average of $44.88. Methanex has a 1 year low of $36.13 and a 1 year high of $56.43.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a dividend of $0.185 per share. The ex-dividend date was Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.41%. Methanex’s dividend payout ratio (DPR) is presently 34.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MEOH shares. UBS Group cut their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. Piper Sandler raised their price target on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 19th. Raymond James raised their price objective on shares of Methanex from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research report on Monday, January 6th. Finally, StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Methanex presently has an average rating of “Moderate Buy” and an average target price of $59.00.

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.