What is Scotiabank’s Forecast for Methanex FY2024 Earnings?

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Scotiabank increased their FY2024 earnings per share (EPS) estimates for Methanex in a report released on Wednesday, January 8th. Scotiabank analyst B. Isaacson now forecasts that the company will post earnings per share of $5.11 for the year, up from their prior estimate of $3.51. The consensus estimate for Methanex’s current full-year earnings is $5.95 per share.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its quarterly earnings results on Wednesday, November 6th. The company reported C$1.65 earnings per share for the quarter, beating the consensus estimate of C$0.60 by C$1.05. The firm had revenue of C$1.28 billion for the quarter, compared to analysts’ expectations of C$1.26 billion. Methanex had a return on equity of 10.21% and a net margin of 4.06%.

Separately, Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th.

Methanex Stock Down 1.6 %

MX stock opened at C$68.86 on Friday. The company’s 50 day moving average is C$65.27 and its 200 day moving average is C$62.23. The stock has a market cap of C$4.64 billion, a price-to-earnings ratio of 23.66, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The company has a current ratio of 1.25, a quick ratio of 1.59 and a debt-to-equity ratio of 131.58. Methanex has a 1-year low of C$49.21 and a 1-year high of C$74.25.

Insider Buying and Selling at Methanex

In related news, Senior Officer Priscilla Fuchslocher sold 7,720 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of C$65.39, for a total transaction of C$504,818.52. Company insiders own 0.35% of the company’s stock.

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.