Methanex (TSE:MX) Releases Quarterly Earnings Results

Methanex (TSE:MX) (NASDAQ:MEOH) released its earnings results on Thursday. The company reported C$5.25 earnings per share for the quarter, FiscalAI reports. Methanex had a return on equity of 3.50% and a net margin of 2.05%. The firm had revenue of C$1.98 billion for the quarter.

Methanex Stock Performance

Shares of TSE:MX opened at C$87.77 on Friday. The firm has a market cap of C$6.79 billion, a PE ratio of 99.74, a price-to-earnings-growth ratio of 0.44 and a beta of 0.66. The firm’s 50 day simple moving average is C$85.49 and its 200-day simple moving average is C$78.05. Methanex has a one year low of C$45.01 and a one year high of C$92.97. The company has a debt-to-equity ratio of 122.11, a quick ratio of 1.59 and a current ratio of 2.07.

Insider Buying and Selling at Methanex

In related news, Director Alejandro Larrive sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of C$88.03, for a total value of C$176,060.00. Following the completion of the sale, the director owned 8,009 shares in the company, valued at approximately C$705,032.27. The trade was a 19.98% decrease in their ownership of the stock. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analysts Forecast Growth

MX has been the subject of several recent analyst reports. Canadian Imperial Bank of Commerce raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 20th. National Bank Financial raised shares of Methanex to a “strong-buy” rating in a research note on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of C$60.00.

About Methanex

Methanex is a Vancouver-based, publicly traded company and is the world’s largest supplier of methanol globally. Methanex shares are listed for trading on the Toronto Stock Exchange in Canada under the trading symbol ‘MX’ and on the Nasdaq Global Select Market in the United States under the trading symbol ‘MEOH’. Methanex can be visited online at www.methanex.com.