Analysts Issue Forecasts for Methanex Co.’s Q3 2024 Earnings (TSE:MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Scotiabank lifted their Q3 2024 EPS estimates for shares of Methanex in a research note issued on Tuesday, September 10th. Scotiabank analyst B. Isaacson now expects that the company will post earnings of $0.76 per share for the quarter, up from their prior estimate of $0.70. The consensus estimate for Methanex’s current full-year earnings is $3.78 per share. Scotiabank also issued estimates for Methanex’s Q4 2024 earnings at $1.12 EPS, Q1 2025 earnings at $1.21 EPS, Q3 2025 earnings at $1.04 EPS and Q4 2025 earnings at $1.21 EPS.

Methanex (TSE:MX) (NASDAQ:MEOH) last announced its quarterly earnings results on Tuesday, July 30th. The company reported C$0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.19. The company had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.35 billion. Methanex had a net margin of 4.06% and a return on equity of 10.21%.

Several other brokerages also recently commented on MX. Piper Sandler upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 7th. Barclays downgraded shares of Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday.

Methanex Stock Performance

Methanex stock opened at C$51.30 on Friday. The company’s 50-day moving average price is C$62.22 and its 200-day moving average price is C$64.51. Methanex has a twelve month low of C$49.21 and a twelve month high of C$74.25. The company has a quick ratio of 1.59, a current ratio of 1.25 and a debt-to-equity ratio of 131.58. The company has a market cap of C$3.46 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 0.44 and a beta of 1.82.

Insider Transactions at Methanex

In related news, Director Alejandro Larrive sold 1,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of C$66.00, for a total transaction of C$66,003.30. In other news, Senior Officer Kevin Price bought 500 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average price of C$50.69 per share, with a total value of C$25,347.00. Also, Director Alejandro Larrive sold 1,000 shares of the stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of C$66.00, for a total transaction of C$66,003.30. In the last quarter, insiders acquired 2,100 shares of company stock valued at $106,186. Company insiders own 0.33% of the company’s stock.

Methanex Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be given a $0.253 dividend. This represents a $1.01 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Monday, September 16th. This is a boost from Methanex’s previous quarterly dividend of $0.25. Methanex’s dividend payout ratio is presently 35.07%.

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.