Brokerages Anticipate Methanex Co. (NASDAQ:MEOH) Will Post Quarterly Sales of $984.00 Million

Equities research analysts expect Methanex Co. (NASDAQ:MEOH) (TSE:MX) to announce sales of $984.00 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Methanex’s earnings. The lowest sales estimate is $954.00 million and the highest is $1.01 billion. Methanex posted sales of $512.29 million in the same quarter last year, which suggests a positive year-over-year growth rate of 92.1%. The company is expected to issue its next earnings report on Wednesday, August 4th.

On average, analysts expect that Methanex will report full-year sales of $3.71 billion for the current fiscal year, with estimates ranging from $3.46 billion to $3.98 billion. For the next year, analysts anticipate that the firm will report sales of $3.44 billion, with estimates ranging from $2.92 billion to $3.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Methanex.

Methanex (NASDAQ:MEOH) (TSE:MX) last posted its earnings results on Tuesday, April 27th. The specialty chemicals company reported $1.07 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.07. The firm had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $802.13 million. Methanex had a negative return on equity of 3.20% and a negative net margin of 2.55%. The company’s quarterly revenue was up 36.4% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS.

MEOH has been the topic of a number of recent research reports. TD Securities upped their price objective on Methanex from $50.00 to $51.00 and gave the stock a “buy” rating in a research report on Friday, April 30th. Royal Bank of Canada upgraded shares of Methanex from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $45.00 to $50.00 in a research note on Tuesday, June 1st. TheStreet upgraded shares of Methanex from a “d+” rating to a “c-” rating in a research note on Monday, April 5th. Tudor Pickering & Holt set a $38.00 price objective on shares of Methanex and gave the company a “hold” rating in a research note on Tuesday, June 1st. Finally, Tudor Pickering restated a “hold” rating and issued a $46.00 price objective on shares of Methanex in a research note on Thursday, May 13th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $43.38.

Large investors have recently made changes to their positions in the company. Squarepoint Ops LLC increased its stake in Methanex by 196.3% in the 1st quarter. Squarepoint Ops LLC now owns 49,788 shares of the specialty chemicals company’s stock valued at $1,832,000 after purchasing an additional 32,983 shares in the last quarter. Paloma Partners Management Co acquired a new position in shares of Methanex during the 1st quarter worth $412,000. Millennium Management LLC boosted its position in shares of Methanex by 78.1% in the 1st quarter. Millennium Management LLC now owns 46,838 shares of the specialty chemicals company’s stock worth $1,724,000 after buying an additional 20,534 shares in the last quarter. Voloridge Investment Management LLC purchased a new position in Methanex during the 1st quarter valued at about $2,005,000. Finally, Eaton Vance Management purchased a new stake in shares of Methanex in the first quarter valued at about $31,000. 75.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of MEOH stock traded up $0.96 during trading on Tuesday, hitting $37.01. 10,598 shares of the stock traded hands, compared to its average volume of 361,683. The company has a market capitalization of $2.82 billion, a price-to-earnings ratio of -31.08 and a beta of 2.25. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.11 and a quick ratio of 1.66. Methanex has a 52-week low of $17.70 and a 52-week high of $49.27. The firm’s fifty day moving average price is $37.47.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Wednesday, June 16th will be issued a dividend of $0.0375 per share. The ex-dividend date is Tuesday, June 15th. This represents a $0.15 annualized dividend and a yield of 0.41%. Methanex’s dividend payout ratio is currently -6.79%.

About Methanex

Methanex Corporation produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 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. The company owns and manages a fleet of approximately 30 ocean-going vessels.

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