Methanex (TSE:MX) Issues Quarterly Earnings Results

Methanex (TSE:MX) (NASDAQ:MEOH) issued its earnings results on Wednesday. The company reported C$1.65 EPS for the quarter, topping analysts’ consensus estimates of C$0.60 by C$1.05, reports. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The business had revenue of C$1.28 billion for the quarter, compared to the consensus estimate of C$1.26 billion.

Methanex Trading Up 0.2 %

Shares of MX stock traded up C$0.12 during trading hours on Friday, hitting C$58.06. The company had a trading volume of 3,707 shares, compared to its average volume of 107,945. Methanex has a fifty-two week low of C$49.21 and a fifty-two week high of C$74.25. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59. The company’s fifty day moving average is C$56.33 and its 200 day moving average is C$63.06. The stock has a market capitalization of C$3.91 billion, a PE ratio of 19.91, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Barclays downgraded Methanex from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 10th. Piper Sandler upgraded shares of Methanex from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 7th. Finally, Tudor Pickering raised Methanex to a “strong-buy” rating in a report on Wednesday, September 11th.

Insiders Place Their Bets

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

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.