Q1 2024 EPS Estimates for Methanex Co. (TSE:MX) Lifted by Analyst

Methanex Co. (TSE:MX) (NASDAQ:MEOH) – Equities research analysts at Raymond James raised their Q1 2024 earnings estimates for shares of Methanex in a research note issued on Tuesday, April 16th. Raymond James analyst S. Hansen now forecasts that the company will post earnings of $0.37 per share for the quarter, up from their previous estimate of $0.26. The consensus estimate for Methanex’s current full-year earnings is $3.32 per share. Raymond James also issued estimates for Methanex’s Q2 2024 earnings at $0.96 EPS, Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $1.86 EPS, FY2024 earnings at $3.84 EPS and FY2025 earnings at $7.78 EPS.

Methanex (TSE:MX) (NASDAQ:MEOH) last released its earnings results on Wednesday, January 31st. The company reported C$0.71 earnings per share for the quarter, topping the consensus estimate of C$0.37 by C$0.34. The company had revenue of C$1.26 billion for the quarter, compared to the consensus estimate of C$1.23 billion. Methanex had a net margin of 4.68% and a return on equity of 12.35%.

Methanex Stock Up 1.7 %

TSE:MX opened at C$65.93 on Thursday. The company has a market cap of C$4.44 billion, a PE ratio of 18.84, a P/E/G ratio of 0.44 and a beta of 1.94. Methanex has a twelve month low of C$50.57 and a twelve month high of C$69.75. The company has a current ratio of 1.14, a quick ratio of 1.59 and a debt-to-equity ratio of 138.70. The company’s 50 day moving average is C$61.57 and its two-hundred day moving average is C$60.37.

Methanex Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a $0.245 dividend. This represents a $0.98 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Wednesday, March 13th. Methanex’s dividend payout ratio (DPR) is currently 28.86%.

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.