What is Zacks Research’s Forecast for Methanex Q4 Earnings?

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Analysts at Zacks Research increased their Q4 2024 earnings per share (EPS) estimates for Methanex in a report issued on Monday, November 25th. Zacks Research analyst R. Department now expects 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.

A number of other research firms have also recently commented on MEOH. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $55.00 target price on shares of Methanex in a research report on Tuesday, September 3rd. Piper Sandler boosted their price target 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. Barclays increased 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 dropped 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. Finally, Raymond James decreased their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating on the stock in a research note 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.88.

Methanex Stock Performance

Shares of Methanex stock opened at $46.52 on Wednesday. The business’s fifty day simple moving average is $42.07 and its 200-day simple moving average is $45.58. The company has a quick ratio of 1.01, a current ratio of 1.34 and a debt-to-equity ratio of 0.79. The firm has a market cap of $3.13 billion, a PE ratio of 21.74 and a beta of 1.36. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43.

Methanex Announces Dividend

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

Institutional Trading of Methanex

Several hedge funds have recently modified their holdings of MEOH. Toronto Dominion Bank increased its holdings in Methanex by 19.6% during the 2nd quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company’s stock worth $1,604,000 after purchasing an additional 5,451 shares during the period. Millennium Management LLC increased its position in shares of Methanex by 13.0% in the 2nd quarter. Millennium Management LLC now owns 508,730 shares of the specialty chemicals company’s stock valued at $24,551,000 after purchasing an additional 58,719 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Methanex in the 2nd quarter valued at $201,000. Truist Financial Corp increased its holdings in Methanex by 5.0% in the second quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after buying an additional 294 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Methanex by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 944,262 shares of the specialty chemicals company’s stock worth $45,570,000 after buying an additional 30,887 shares during the last quarter. 73.49% of the stock is currently owned by institutional investors and hedge funds.

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.