Methanex (NASDAQ:MEOH) Issues Earnings Results

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.25 by $0.05, Zacks reports. The company had revenue of $857.90 million for the quarter, compared to analyst estimates of $1.06 billion. Methanex had a return on equity of 10.97% and a net margin of 4.41%. Methanex's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share.

Methanex Trading Up 1.9 %

Shares of MEOH traded up $0.61 during midday trading on Friday, reaching $32.98. The company had a trading volume of 988,999 shares, compared to its average volume of 381,028. Methanex has a 1-year low of $25.46 and a 1-year high of $56.43. The company has a quick ratio of 2.00, a current ratio of 2.62 and a debt-to-equity ratio of 1.01. The firm has a 50 day simple moving average of $33.87 and a 200-day simple moving average of $42.01. The stock has a market cap of $2.22 billion, a PE ratio of 14.28 and a beta of 1.06.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be paid a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Monday, June 16th. Methanex's dividend payout ratio (DPR) is currently 32.03%.

Analyst Upgrades and Downgrades

MEOH has been the subject of several recent analyst reports. Raymond James cut their price target on shares of Methanex from $62.00 to $40.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. UBS Group reduced their price target on shares of Methanex from $53.00 to $51.00 and set a "buy" rating for the company in a research report on Thursday. Barclays lowered their price objective on Methanex from $57.00 to $41.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 1st. Piper Sandler cut Methanex from an "overweight" rating to a "neutral" rating and reduced their target price for the company from $71.00 to $36.00 in a report on Monday, April 7th. Finally, StockNews.com lowered Methanex from a "buy" rating to a "hold" rating in a research note on Thursday. Five analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Methanex presently has a consensus rating of "Moderate Buy" and an average price target of $47.25.

About Methanex

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.