FY2024 EPS Estimates for Methanex Increased by Raymond James

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Equities research analysts at Raymond James upped their FY2024 earnings per share estimates for Methanex in a report released on Tuesday, January 14th. Raymond James analyst S. Hansen now anticipates that the specialty chemicals company will post earnings per share of $3.55 for the year, up from their prior estimate of $3.46. Raymond James currently has a “Outperform” rating and a $60.00 price target on the stock. The consensus estimate for Methanex’s current full-year earnings is $3.37 per share. Raymond James also issued estimates for Methanex’s Q3 2025 earnings at $1.00 EPS.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Monday, January 6th. Piper Sandler upped their price objective on Methanex from $68.00 to $71.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 19th. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, December 10th. Finally, StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Methanex has an average rating of “Moderate Buy” and a consensus target price of $58.00.

Methanex Price Performance

MEOH stock opened at $49.85 on Thursday. The company’s 50-day moving average price is $46.95 and its two-hundred day moving average price is $44.86. The firm has a market cap of $3.36 billion, a P/E ratio of 23.29 and a beta of 1.37. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43.

Hedge Funds Weigh In On Methanex

Several large investors have recently modified their holdings of the business. Wilmington Savings Fund Society FSB acquired a new stake in Methanex in the third quarter valued at $40,000. EverSource Wealth Advisors LLC increased its stake in shares of Methanex by 572.5% in the second quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after buying an additional 1,626 shares during the period. Blue Trust Inc. lifted its stake in shares of Methanex by 56.8% in the third quarter. Blue Trust Inc. now owns 2,474 shares of the specialty chemicals company’s stock worth $102,000 after acquiring an additional 896 shares during the period. Squarepoint Ops LLC acquired a new stake in Methanex during the 2nd quarter valued at approximately $201,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Methanex during the 4th quarter worth approximately $220,000. Institutional investors own 73.49% of the company’s stock.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

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.