Methanex (MX) Set to Announce Quarterly Earnings on Wednesday

Methanex (TSE:MX) (NASDAQ:MEOH) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of C$0.55 per share for the quarter.

Methanex (TSE:MX) (NASDAQ:MEOH) last issued its earnings results on Tuesday, July 30th. The company reported C$0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$0.66 by C$0.19. The firm had revenue of C$1.26 billion during the quarter, compared to analyst estimates of C$1.35 billion. Methanex had a net margin of 4.06% and a return on equity of 10.21%.

Methanex Stock Down 1.3 %

Shares of MX opened at C$54.85 on Wednesday. The firm has a market capitalization of C$3.70 billion, a P/E ratio of 18.85, a P/E/G ratio of 0.44 and a beta of 1.79. Methanex has a 12-month low of C$49.21 and a 12-month high of C$74.25. The company has a current ratio of 1.25, a quick ratio of 1.59 and a debt-to-equity ratio of 131.58. The firm has a fifty day moving average price of C$57.23 and a 200-day moving average price of C$63.58.

Insider Buying and Selling

In other Methanex news, Director Leslie O’donoghue acquired 2,500 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was bought at an average cost of C$54.75 per share, with a total value of C$136,876.00. In other news, Senior Officer Kevin Price purchased 500 shares of the stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of C$50.69 per share, for a total transaction of C$25,347.00. Also, Director Leslie O’donoghue purchased 2,500 shares of the stock in a transaction dated Tuesday, September 24th. The stock was purchased at an average price of C$54.75 per share, for a total transaction of C$136,876.00. Insiders acquired a total of 4,953 shares of company stock valued at $262,064 over the last three months. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

MX has been the subject of a number of recent analyst reports. Piper Sandler raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Barclays lowered shares of Methanex from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Finally, Tudor Pickering raised shares of Methanex to a “strong-buy” rating in a research note on Wednesday, September 11th.

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.