Equities Analysts Offer Predictions for Methanex Q4 Earnings

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Stock analysts at Zacks Research raised their Q4 2024 earnings estimates for shares of Methanex in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now anticipates that the specialty chemicals company will post earnings per share of $0.65 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.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $55.00 price objective on shares of Methanex in a research report on Tuesday, September 3rd. Barclays raised their price objective 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. UBS Group lowered their price objective on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. StockNews.com raised shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Raymond James lowered their price objective on shares of Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Methanex currently has an average rating of “Moderate Buy” and an average price target of $55.88.

Methanex Price Performance

Shares of NASDAQ:MEOH opened at $46.29 on Wednesday. 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 market capitalization of $3.12 billion, a P/E ratio of 21.63 and a beta of 1.36. The company’s fifty day moving average price is $41.81 and its 200 day moving average price is $45.57.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th will be issued a $0.185 dividend. This represents a $0.74 annualized dividend and a dividend yield of 1.60%. The ex-dividend date is Tuesday, December 17th. Methanex’s payout ratio is 34.58%.

Institutional Trading of Methanex

Several hedge funds and other institutional investors have recently made changes to their positions in MEOH. Wilmington Savings Fund Society FSB purchased a new stake in Methanex during the third quarter worth about $40,000. Barclays PLC boosted its holdings in Methanex by 64.9% during the third quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company’s stock worth $845,000 after buying an additional 8,047 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Methanex by 7.8% during the third quarter. Toronto Dominion Bank now owns 35,819 shares of the specialty chemicals company’s stock worth $1,481,000 after buying an additional 2,590 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Methanex by 1.2% during the third quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company’s stock worth $4,340,000 after buying an additional 1,203 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Methanex during the third quarter worth about $1,092,000. Hedge funds and other institutional investors own 73.49% of the company’s stock.

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.