Raymond James Has Positive Estimate for Methanex Q4 Earnings

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Raymond James upped their Q4 2024 EPS estimates for shares of Methanex in a research note issued on Tuesday, January 14th. Raymond James analyst S. Hansen now expects that the specialty chemicals company will earn $1.17 per share for the quarter, up from their prior estimate of $1.08. Raymond James has a “Outperform” rating and a $60.00 price objective 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 Q1 2025 earnings at $1.56 EPS, Q2 2025 earnings at $0.93 EPS, Q4 2025 earnings at $1.85 EPS, FY2025 earnings at $5.34 EPS and FY2026 earnings at $6.12 EPS.

MEOH has been the topic of several other research reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a report on Monday, January 6th. 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. Cibc World Mkts raised Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. UBS Group dropped their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. 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 note on Tuesday, November 19th. Two 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 company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $58.00.

Methanex Stock Down 1.1 %

MEOH stock opened at $49.32 on Friday. The firm has a market cap of $3.32 billion, a PE ratio of 23.05 and a beta of 1.37. Methanex has a 12 month low of $36.13 and a 12 month high of $56.43. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The firm has a 50 day simple moving average of $47.09 and a 200 day simple moving average of $44.87.

Hedge Funds Weigh In On Methanex

A number of hedge funds have recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in Methanex in the third quarter valued at approximately $40,000. EverSource Wealth Advisors LLC lifted its stake in shares of Methanex by 572.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,910 shares of the specialty chemicals company’s stock valued at $93,000 after purchasing an additional 1,626 shares during the last quarter. Blue Trust Inc. boosted its holdings in 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 purchasing an additional 896 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Methanex during the second quarter worth $201,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Methanex during the fourth quarter valued at about $220,000. Institutional investors and hedge funds own 73.49% of the company’s stock.

Methanex Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a $0.185 dividend. The ex-dividend date was Tuesday, December 17th. This represents a $0.74 annualized dividend and a dividend yield of 1.50%. 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.