Zacks: Brokerages Expect Methanex Co. (MEOH) to Announce $2.12 EPS

Wall Street analysts expect Methanex Co. (NASDAQ:MEOH) (TSE:MX) to report earnings per share (EPS) of $2.12 for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for Methanex’s earnings, with the lowest EPS estimate coming in at $1.98 and the highest estimate coming in at $2.25. Methanex posted earnings per share of $1.56 in the same quarter last year, which would indicate a positive year over year growth rate of 35.9%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Methanex will report full year earnings of $6.19 per share for the current year, with EPS estimates ranging from $5.40 to $6.97. For the next fiscal year, analysts anticipate that the firm will report earnings of $5.14 per share, with EPS estimates ranging from $4.05 to $6.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Methanex.

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Methanex (NASDAQ:MEOH) (TSE:MX) last issued its quarterly earnings data on Wednesday, January 31st. The specialty chemicals company reported $1.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.51. Methanex had a return on equity of 22.72% and a net margin of 10.34%. The company had revenue of $861.00 million during the quarter, compared to analyst estimates of $796.57 million. During the same quarter in the previous year, the firm earned $0.46 earnings per share. Methanex’s revenue was up 47.2% on a year-over-year basis.

Several brokerages have recently commented on MEOH. Scotiabank reissued a “hold” rating and set a $63.00 price objective (up previously from $57.50) on shares of Methanex in a report on Wednesday, January 3rd. TD Securities lowered Methanex from a “buy” rating to a “hold” rating and set a $66.00 price objective for the company. in a report on Monday, January 8th. They noted that the move was a valuation call. Alembic Global Advisors restated a “buy” rating on shares of Methanex in a research report on Monday, January 8th. Monness Crespi & Hardt boosted their target price on Methanex from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Jefferies Group boosted their target price on Methanex to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $59.21.

Hedge funds have recently made changes to their positions in the business. FineMark National Bank & Trust bought a new stake in Methanex in the fourth quarter valued at approximately $253,000. ETRADE Capital Management LLC bought a new stake in Methanex in the third quarter valued at approximately $241,000. FNY Partners Fund LP bought a new stake in Methanex in the fourth quarter valued at approximately $302,000. AXA bought a new stake in Methanex in the fourth quarter valued at approximately $442,000. Finally, Guardian Capital Advisors LP lifted its position in Methanex by 43.0% in the third quarter. Guardian Capital Advisors LP now owns 7,455 shares of the specialty chemicals company’s stock valued at $475,000 after purchasing an additional 2,240 shares during the last quarter. Hedge funds and other institutional investors own 80.20% of the company’s stock.

Shares of NASDAQ MEOH traded down $1.50 during midday trading on Friday, hitting $62.20. 441,980 shares of the company’s stock were exchanged, compared to its average volume of 750,199. Methanex has a 12-month low of $39.47 and a 12-month high of $64.60. The company has a current ratio of 1.66, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $5,336.98, a price-to-earnings ratio of 13.21, a PEG ratio of 0.69 and a beta of 1.63.

Methanex announced that its Board of Directors has authorized a stock buyback plan on Monday, March 5th that authorizes the company to repurchase 6,590,000 shares. This repurchase authorization authorizes the specialty chemicals company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 31st. Shareholders of record on Saturday, March 17th were given a $0.33 dividend. The ex-dividend date was Thursday, March 15th. This represents a $1.32 annualized dividend and a yield of 2.12%. This is an increase from Methanex’s previous quarterly dividend of $0.30. Methanex’s payout ratio is presently 28.03%.

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About Methanex

Methanex Corp is a Canada-based producer and supplier of methanol to a range of international markets. The Company operates production sites in Canada, Chile, Egypt, New Zealand, the United States, as well as Trinidad and Tobago. Its global operations are supported by a global supply chain of terminals, storage facilities and a fleet of methanol ocean tankers.

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Earnings History and Estimates for Methanex (NASDAQ:MEOH)

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