Scotiabank Issues Optimistic Forecast for Methanex Earnings

Key Points

• Scotiabank raised its FY2027 earnings estimate for Methanex to $8.16 per share from $7.90, notably above the current consensus estimate of $5.95 per share.
• Analyst sentiment on the stock remains mixed: National Bank Financial upgraded Methanex to strong-buy, while Royal Bank of Canada downgraded it to hold. The overall average rating is still Moderate Buy with a C$60.00 target price.
• Methanex recently reported quarterly EPS of C$0.42 on revenue of C$1.35 billion, and insiders have been active with both buying and selling over the last three months.

Methanex Co. (TSE:MX - Free Report) NASDAQ: MEOH - Research analysts at Scotiabank increased their FY2027 earnings estimates for Methanex in a research note issued on Wednesday, July 15th. Scotiabank analyst B. Isaacson now forecasts that the company will earn $8.16 per share for the year, up from their previous forecast of $7.90. The consensus estimate for Methanex's current full-year earnings is $5.95 per share.

Several other research analysts also recently weighed in on the company. National Bank Financial upgraded Methanex to a "strong-buy" rating in a report on Monday. Royal Bank Of Canada downgraded shares of Methanex from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 1st. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of C$60.00.

Methanex Price Performance

TSE:MX opened at C$74.69 on Friday. The company's 50-day moving average is C$77.64 and its two-hundred day moving average is C$73.99. The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 143.44. The firm has a market cap of C$5.78 billion, a price-to-earnings ratio of -102.32, a price-to-earnings-growth ratio of 0.44 and a beta of 0.63. Methanex has a 12-month low of C$44.57 and a 12-month high of C$92.97.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its quarterly earnings data on Wednesday, April 29th. The company reported C$0.42 earnings per share (EPS) for the quarter. Methanex had a negative return on equity of 1.84% and a negative net margin of 1.26%.The firm had revenue of C$1.35 billion during the quarter.

Insider Buying and Selling

In other Methanex news, insider Sergio Almarza sold 4,500 shares of Methanex stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of C$86.06, for a total value of C$387,270.00. Following the completion of the transaction, the insider directly owned 11,570 shares in the company, valued at C$995,714.20. The trade was a 28.00% decrease in their ownership of the stock. Also, insider Sunil Jagwani acquired 43,000 shares of Methanex stock in a transaction that occurred on Friday, May 22nd. The shares were bought at an average price of C$82.62 per share, with a total value of C$3,552,660.00. Following the transaction, the insider directly owned 2,571,000 shares in the company, valued at approximately C$212,416,020. This trade represents a 1.70% increase in their ownership of the stock. Over the last three months, insiders bought 278,000 shares of company stock worth $23,636,345 and sold 13,475 shares worth $1,175,470. Insiders own 0.35% of the company's stock.

About Methanex

Methanex Corp manufactures and sells methanol. Methanex's customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines.

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