Methanex (MEOH) to Release Earnings on Wednesday

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.41 per share for the quarter. Individual interested in registering for the company's earnings conference call can do so using this link.

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last announced its quarterly earnings results on Tuesday, July 30th. The specialty chemicals company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.10. The business had revenue of $920.00 million during the quarter, compared to analyst estimates of $954.26 million. Methanex had a net margin of 4.05% and a return on equity of 5.44%. Methanex's quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. On average, analysts expect Methanex to post $2 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Methanex Stock Up 1.3 %

Shares of Methanex stock traded up $0.53 on Wednesday, hitting $39.90. The company had a trading volume of 33,144 shares, compared to its average volume of 296,936. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.87 and a current ratio of 1.25. The stock has a 50 day moving average of $41.92 and a 200-day moving average of $46.40. Methanex has a 1 year low of $36.13 and a 1 year high of $56.43. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 16.68 and a beta of 1.35.

Analysts Set New Price Targets

MEOH has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Scotiabank lifted their price target on Methanex from $58.00 to $60.00 and gave the stock a "sector outperform" rating in a report on Wednesday, July 10th. Barclays lowered Methanex from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $56.00 to $44.00 in a research report on Tuesday, September 10th. Piper Sandler raised their price objective on shares of Methanex from $51.00 to $68.00 and gave the stock an "overweight" rating in a report on Tuesday, September 10th. Finally, Raymond James dropped their target price on shares of Methanex from $62.00 to $54.00 and set an "outperform" rating on the stock in a research note on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Methanex currently has a consensus rating of "Moderate Buy" and an average target price of $55.38.

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.