Research Analysts Set Expectations for Methanex Q4 Earnings

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Investment analysts at Zacks Research raised their Q4 2024 earnings per share estimates for Methanex in a report released 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 previous forecast 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 analysts have also issued reports on MEOH. Barclays lifted their target price on Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a report on Tuesday, September 3rd. UBS Group reduced their target price on shares of Methanex from $54.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com raised Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Piper Sandler boosted their target price on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.88.

Methanex Stock Up 0.5 %

Shares of MEOH stock opened at $46.52 on Wednesday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. The stock has a market cap of $3.13 billion, a PE ratio of 21.74 and a beta of 1.36. The business’s fifty day moving average is $41.95 and its 200-day moving average is $45.57. Methanex has a 1 year low of $36.13 and a 1 year high of $56.43.

Institutional Trading of Methanex

Institutional investors have recently made changes to their positions in the stock. Truist Financial Corp lifted its position in Methanex by 5.0% in the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock worth $300,000 after buying an additional 294 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Methanex by 3.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 13,978 shares of the specialty chemicals company’s stock valued at $622,000 after purchasing an additional 411 shares during the last quarter. Bank of Hawaii boosted its position in Methanex by 4.2% during the third quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company’s stock valued at $474,000 after purchasing an additional 465 shares during the last quarter. Value Partners Investments Inc. grew its stake in Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after purchasing an additional 532 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake in shares of Methanex by 3.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock worth $897,000 after purchasing an additional 707 shares in the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

Methanex Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend is Tuesday, December 17th. Methanex’s dividend payout ratio (DPR) is 34.58%.

About Methanex

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.