Methanex (NASDAQ:MEOH) Posts Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX announced its quarterly earnings results on Wednesday, April 30th. 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 net margin of 4.41% and a return on equity of 10.97%. The firm's revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share.

Methanex Trading Up 1.1 %

NASDAQ MEOH traded up $0.34 during mid-day trading on Wednesday, reaching $32.68. 171,008 shares of the stock were exchanged, compared to its average volume of 383,512. The business's fifty day simple moving average is $33.40 and its 200 day simple moving average is $41.88. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.00 and a current ratio of 2.62. The stock has a market capitalization of $2.20 billion, a PE ratio of 14.18 and a beta of 0.93. Methanex has a 1-year low of $25.46 and a 1-year high of $56.43.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Monday, June 16th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.74 dividend on an annualized basis and a yield of 2.26%. Methanex's dividend payout ratio (DPR) is 24.83%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MEOH. StockNews.com cut shares of Methanex from a "buy" rating to a "hold" rating in a research report on Thursday, May 1st. Barclays decreased their target price on Methanex from $57.00 to $41.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 1st. CIBC cut their price target on Methanex from $47.00 to $44.00 and set an "outperformer" rating on the stock in a research report on Monday. Scotiabank upgraded shares of Methanex from a "sector perform" rating to a "sector outperform" rating and set a $53.00 target price on the stock in a research report on Monday. Finally, Piper Sandler lowered Methanex from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $71.00 to $36.00 in a report on Monday, April 7th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $46.88.

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.