Methanex (NASDAQ:MEOH) Releases Earnings Results, Beats Estimates By $0.30 EPS

Methanex (NASDAQ:MEOH) (TSE:MX) posted its earnings results on Wednesday. The specialty chemicals company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates 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 Up 5.0 %

MEOH opened at $52.34 on Thursday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. Methanex has a one year low of $36.13 and a one year high of $56.43. The firm has a market capitalization of $3.53 billion, a P/E ratio of 24.33 and a beta of 1.37. The company has a fifty day moving average price of $48.09 and a 200-day moving average price of $44.88.

Methanex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.185 dividend. This represents a $0.74 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MEOH shares. Raymond James raised their target price on shares of Methanex from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. UBS Group decreased their price target on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, November 7th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Monday, January 6th. Finally, Cibc World Mkts upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and an average price target of $59.00.

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.