FY2024 EPS Estimates for Methanex Boosted by Zacks Research

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Equities researchers at Zacks Research upped their FY2024 earnings estimates for shares of Methanex in a report issued on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the specialty chemicals company will post earnings per share of $3.03 for the year, up from their previous estimate of $2.10. The consensus estimate for Methanex’s current full-year earnings is $2.93 per share. Zacks Research also issued estimates for Methanex’s Q2 2025 earnings at $0.32 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $1.63 EPS, FY2025 earnings at $3.50 EPS, Q1 2026 earnings at $0.54 EPS, Q2 2026 earnings at $1.54 EPS, Q3 2026 earnings at $1.39 EPS and FY2026 earnings at $4.60 EPS.

Several other equities analysts have also recently weighed in on MEOH. Piper Sandler raised their price target 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. Barclays raised their target price on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com upgraded Methanex from a “hold” rating to a “buy” rating in a report on Friday, November 8th. 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. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research note on Tuesday, September 3rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.88.

Methanex Stock Up 0.5 %

Methanex stock opened at $46.52 on Thursday. The firm has a market capitalization of $3.13 billion, a price-to-earnings ratio of 21.74 and a beta of 1.36. The firm’s fifty day moving average price is $41.95 and its two-hundred day moving average price is $45.57. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Methanex during the 3rd quarter worth approximately $40,000. Blue Trust Inc. increased its position in Methanex by 52,500.0% in the second quarter. Blue Trust Inc. now owns 1,578 shares of the specialty chemicals company’s stock worth $70,000 after buying an additional 1,575 shares during the last quarter. EverSource Wealth Advisors LLC raised 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. Squarepoint Ops LLC bought a new position in shares of Methanex during the 2nd quarter worth $201,000. Finally, Value Partners Investments Inc. increased its holdings in Methanex by 10.4% in the 3rd quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock worth $233,000 after acquiring an additional 532 shares during the last quarter. 73.49% of the stock is currently owned by hedge funds and other institutional investors.

Methanex Dividend Announcement

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