Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX - Equities research analysts at Raymond James boosted their Q1 2024 EPS estimates for shares of Methanex in a research report issued to clients and investors on Tuesday, April 16th. Raymond James analyst S. Hansen now expects that the specialty chemicals company will post earnings of $0.27 per share for the quarter, up from their prior estimate of $0.19. Raymond James has a "Outperform" rating and a $62.00 price target on the stock. The consensus estimate for Methanex's current full-year earnings is $2.15 per share. Raymond James also issued estimates for Methanex's Q2 2024 earnings at $0.70 EPS, Q3 2024 earnings at $0.47 EPS, Q4 2024 earnings at $1.35 EPS, FY2024 earnings at $2.79 EPS and FY2025 earnings at $5.65 EPS.
Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last released its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.24. Methanex had a net margin of 4.67% and a return on equity of 6.71%. The business had revenue of $922.00 million during the quarter, compared to analyst estimates of $901.21 million.
MEOH has been the subject of a number of other reports. Piper Sandler restated a "neutral" rating and set a $50.00 price target on shares of Methanex in a research report on Thursday, March 7th. CIBC boosted their price target on shares of Methanex from $46.00 to $48.00 and gave the company a "neutral" rating in a research report on Wednesday, January 10th. Royal Bank of Canada restated a "sector perform" rating and set a $45.00 price target on shares of Methanex in a research report on Wednesday, April 3rd. UBS Group upgraded shares of Methanex from a "neutral" rating to a "buy" rating and boosted their price target for the company from $51.00 to $60.00 in a research report on Thursday, February 8th. Finally, Barclays boosted their price target on shares of Methanex from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Monday, February 12th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.50.
Read Our Latest Stock Analysis on MEOH
Methanex Stock Performance
Methanex stock traded up $0.17 during mid-day trading on Thursday, reaching $47.06. The company's stock had a trading volume of 131,913 shares, compared to its average volume of 293,990. The firm's fifty day moving average price is $45.33 and its two-hundred day moving average price is $44.53. The company has a market capitalization of $3.17 billion, a P/E ratio of 19.13 and a beta of 1.50. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.81 and a current ratio of 1.14. Methanex has a 12-month low of $38.18 and a 12-month high of $51.42.
Institutional Trading of Methanex
Several hedge funds have recently added to or reduced their stakes in MEOH. Tower Research Capital LLC TRC lifted its stake in Methanex by 1,158.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,271 shares of the specialty chemicals company's stock worth $53,000 after purchasing an additional 1,170 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Methanex by 37.2% in the first quarter. Lazard Asset Management LLC now owns 1,114 shares of the specialty chemicals company's stock valued at $60,000 after acquiring an additional 302 shares during the period. State of Wyoming purchased a new position in shares of Methanex in the fourth quarter valued at about $92,000. Deutsche Bank AG purchased a new position in shares of Methanex in the fourth quarter valued at about $101,000. Finally, Citigroup Inc. increased its position in shares of Methanex by 43.3% in the second quarter. Citigroup Inc. now owns 2,884 shares of the specialty chemicals company's stock valued at $119,000 after acquiring an additional 871 shares during the period. 73.49% of the stock is owned by institutional investors.
Methanex Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.57%. The ex-dividend date was Wednesday, March 13th. Methanex's dividend payout ratio is presently 30.08%.
Methanex Company Profile
(
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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.
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