Scotiabank Equities Analysts Lower Earnings Estimates for Methanex Co. (TSE:MX)

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Research analysts at Scotiabank lowered their Q2 2024 EPS estimates for shares of Methanex in a report released on Wednesday, July 10th. Scotiabank analyst B. Isaacson now expects that the company will post earnings per share of $0.79 for the quarter, down from their prior forecast of $0.82. The consensus estimate for Methanex’s current full-year earnings is $3.17 per share.

Methanex (TSE:MX) (NASDAQ:MEOH) last posted its earnings results on Wednesday, April 24th. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.40 by C$0.48. Methanex had a net margin of 4.64% and a return on equity of 11.42%. The firm had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.23 billion.

Methanex Trading Up 1.1 %

Shares of Methanex stock opened at C$69.51 on Thursday. Methanex has a 1 year low of C$53.00 and a 1 year high of C$74.25. The company has a debt-to-equity ratio of 136.07, a quick ratio of 1.59 and a current ratio of 1.17. The company has a market capitalization of C$4.68 billion, a P/E ratio of 20.63, a PEG ratio of 0.44 and a beta of 1.91. The company’s fifty day moving average is C$68.91 and its two-hundred day moving average is C$64.36.

Insiders Place Their Bets

In other news, Director Alejandro Larrive sold 1,000 shares of Methanex stock in a transaction dated Monday, May 13th. The shares were sold at an average price of C$72.16, for a total value of C$72,160.00. In related news, Director Alejandro Larrive sold 1,000 shares of the firm’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of C$72.16, for a total value of C$72,160.00. Also, Director Xiaoping Yang sold 500 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of C$54.90, for a total transaction of C$27,450.00. In the last three months, insiders have sold 5,788 shares of company stock valued at $393,921. Insiders own 0.33% of the company’s stock.

Methanex Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a dividend of $0.25 per share. This is an increase from Methanex’s previous quarterly dividend of $0.25. This represents a $1.00 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, June 14th. Methanex’s dividend payout ratio (DPR) is presently 29.97%.

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.