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

Methanex (NASDAQ:MEOH) (TSE:MX) issued its quarterly earnings data on Wednesday. The specialty chemicals company reported $1.24 earnings per share for the quarter, beating 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 Stock Performance

Shares of NASDAQ:MEOH traded up $0.81 during midday trading on Wednesday, reaching $49.85. The company had a trading volume of 525,784 shares, compared to its average volume of 365,566. Methanex has a 52-week low of $36.13 and a 52-week high of $56.43. The company’s 50 day moving average price is $48.09 and its 200 day moving average price is $44.88. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.36 billion, a P/E ratio of 23.29 and a beta of 1.37.

Methanex Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were issued a dividend of $0.185 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.48%. Methanex’s dividend payout ratio (DPR) is currently 34.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price target on shares of Methanex in a report on Monday, January 6th. Barclays lifted their target price on Methanex from $46.00 to $54.00 and gave the company an “equal weight” rating in a research report on Monday. Raymond James raised their price target on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research note on Tuesday, January 14th. Finally, Piper Sandler upped their price objective on shares of Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Methanex currently has a consensus rating of “Moderate Buy” and an average price target 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.