Methanex (MEOH) to Release Earnings on Wednesday

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

Methanex (NASDAQ:MEOH - Get Free Report) TSE: MX last posted its quarterly earnings data on Tuesday, July 30th. The specialty chemicals company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.10. Methanex had a return on equity of 5.44% and a net margin of 4.05%. The company had revenue of $920.00 million during the quarter, compared to analysts' expectations of $954.26 million. During the same period in the prior year, the firm earned $0.60 earnings per share. Methanex's revenue for the quarter was down 2.0% compared to the same quarter last year. 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 0.7 %

NASDAQ:MEOH traded up $0.29 during trading hours on Wednesday, reaching $39.66. 106,366 shares of the stock were exchanged, compared to its average volume of 297,285. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.25 and a quick ratio of 0.87. Methanex has a twelve month low of $36.13 and a twelve month high of $56.43. The stock has a market cap of $2.67 billion, a PE ratio of 16.68 and a beta of 1.35. The firm has a 50 day moving average of $41.92 and a 200 day moving average of $46.40.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. UBS Group cut their price target on shares of Methanex from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, September 16th. Scotiabank raised their target price on shares of Methanex from $58.00 to $60.00 and gave the company a "sector outperform" rating in a research note on Wednesday, July 10th. Piper Sandler upped their price target on shares of Methanex from $51.00 to $68.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 10th. Royal Bank of Canada reissued a "sector perform" rating and issued a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Finally, Raymond James cut their target price on shares of Methanex from $62.00 to $54.00 and set an "outperform" rating for the company in a research note on Wednesday, September 11th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus 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.