Methanex (TSE:MX) Reaches New 1-Year High on Earnings Beat

Methanex Co. (TSE:MX) (NASDAQ:MEOH) shares reached a new 52-week high on Thursday following a stronger than expected earnings report. The company traded as high as C$69.85 and last traded at C$68.26, with a volume of 60033 shares trading hands. The stock had previously closed at C$65.35.

The company reported C$0.88 EPS for the quarter, beating the consensus estimate of C$0.40 by C$0.48. Methanex had a net margin of 4.68% and a return on equity of 12.35%. The company had revenue of C$1.23 billion for the quarter, compared to the consensus estimate of C$1.23 billion.

Methanex Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.25 per share. This is a positive change from Methanex’s previous quarterly dividend of $0.25. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date is Friday, June 14th. Methanex’s payout ratio is currently 28.86%.

Methanex Price Performance

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 firm’s 50-day moving average price is C$61.90 and its two-hundred day moving average price is C$60.63. The stock has a market cap of C$4.45 billion, a PE ratio of 18.85, a PEG ratio of 0.44 and a beta of 1.94.

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.