Equities Analysts Issue Forecasts for Methanex Q4 Earnings

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Research analysts at Zacks Research boosted their Q4 2024 EPS estimates for Methanex in a research note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now expects that the specialty chemicals company will post earnings of $0.65 per share for the quarter, up from their prior estimate of $0.64. The consensus estimate for Methanex’s current full-year earnings is $2.93 per share. Zacks Research also issued estimates for Methanex’s Q1 2025 earnings at $0.89 EPS.

A number of other research firms have also commented on MEOH. UBS Group dropped their price objective on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Raymond James reduced their price objective on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research report on Wednesday, September 11th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barclays raised their price target on shares of Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Piper Sandler upped their price objective on shares of Methanex from $68.00 to $71.00 and gave the company an “overweight” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.88.

Methanex Stock Performance

Shares of MEOH opened at $46.52 on Wednesday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. Methanex has a one year low of $36.13 and a one year high of $56.43. The company’s fifty day moving average price is $41.95 and its 200 day moving average price is $45.57. The company has a market capitalization of $3.13 billion, a PE ratio of 21.74 and a beta of 1.36.

Methanex Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Hedge Funds Weigh In On Methanex

Hedge funds have recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new stake in Methanex in the 3rd quarter valued at $40,000. Blue Trust Inc. increased its position in shares of Methanex by 52,500.0% during the 2nd quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after purchasing an additional 1,575 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Methanex by 572.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock worth $93,000 after purchasing an additional 1,626 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Methanex in the second quarter valued at about $201,000. Finally, Value Partners Investments Inc. grew its stake in Methanex by 13.3% during the second quarter. Value Partners Investments Inc. now owns 5,110 shares of the specialty chemicals company’s stock worth $247,000 after buying an additional 599 shares during the last quarter. 73.49% of the stock is owned by institutional investors and hedge funds.

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.