Methanex (NASDAQ:MEOH) Announces Earnings Results, Misses Estimates By $0.95 EPS

by · The Markets Daily

Methanex (NASDAQ:MEOH – Get Free Report) (TSE:MX) released its earnings results on Thursday. The specialty chemicals company reported ($0.14) EPS for the quarter, missing the consensus estimate of $0.81 by ($0.95), Briefing.com reports. Methanex had a return on equity of 9.07% and a net margin of 5.97%.The business’s revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS.

Methanex Stock Performance

Methanex stock traded up $3.73 during mid-day trading on Thursday, reaching $57.05. 1,986,523 shares of the company were exchanged, compared to its average volume of 626,376. The firm’s 50-day simple moving average is $47.26 and its two-hundred day simple moving average is $40.67. Methanex has a twelve month low of $25.46 and a twelve month high of $57.43. The firm has a market cap of $4.41 billion, a PE ratio of 19.34 and a beta of 0.65. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.33 and a current ratio of 2.09.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Tuesday, March 17th will be paid a dividend of $0.185 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.74 annualized dividend and a yield of 1.3%. Methanex’s dividend payout ratio is currently 25.08%.

Hedge Funds Weigh In On Methanex

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP grew its position in shares of Methanex by 629.5% in the fourth quarter. Wellington Management Group LLP now owns 2,316,270 shares of the specialty chemicals company’s stock valued at $92,000,000 after purchasing an additional 1,998,763 shares during the period. Boston Partners grew its holdings in Methanex by 686.0% in the 3rd quarter. Boston Partners now owns 963,408 shares of the specialty chemicals company’s stock valued at $38,277,000 after buying an additional 840,831 shares during the period. Millennium Management LLC increased its stake in shares of Methanex by 116.8% during the 3rd quarter. Millennium Management LLC now owns 1,157,233 shares of the specialty chemicals company’s stock valued at $46,011,000 after acquiring an additional 623,502 shares during the last quarter. FIL Ltd lifted its holdings in shares of Methanex by 40.3% during the 4th quarter. FIL Ltd now owns 1,803,108 shares of the specialty chemicals company’s stock worth $71,520,000 after acquiring an additional 518,173 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Methanex in the fourth quarter worth approximately $16,793,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. UBS Group upped their target price on shares of Methanex from $53.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday. Royal Bank Of Canada increased their price objective on shares of Methanex from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Scotiabank reaffirmed an “outperform” rating on shares of Methanex in a research report on Wednesday, January 21st. Raymond James Financial lowered Methanex from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 14th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Methanex in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $48.70.

Read Our Latest Analysis on MEOH

Methanex Company Profile

(Get Free Report)

Methanex Corporation is a Vancouver, Canada–based company and one of the world’s largest producers and suppliers of methanol. The company manufactures methanol, a key feedstock for a wide range of chemical products and industrial applications. Methanex markets its product to customers in energy, plastics, paints and coatings, and various chemical sectors, positioning the company as a critical link in the global supply chain for basic chemicals.

The company’s core product, methanol, serves as a building block for downstream chemicals such as formaldehyde, acetic acid and methyl tertiary butyl ether (MTBE).

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