Zacks Research Has Positive View of Methanex FY2024 Earnings

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for Methanex in a research report issued on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the specialty chemicals company will earn $3.03 per share for the year, up from their previous forecast 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.

A number of other research analysts have also recently issued reports on MEOH. Barclays lifted their target price on Methanex from $44.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. StockNews.com upgraded shares of Methanex from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler increased 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. UBS Group decreased their target price on shares of Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. Finally, Raymond James dropped their price target on Methanex from $62.00 to $54.00 and set an “outperform” rating for the company in a research note on Wednesday, September 11th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Methanex presently has an average rating of “Moderate Buy” and a consensus target price of $55.88.

Methanex Price Performance

Methanex stock opened at $46.52 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.01 and a current ratio of 1.34. Methanex has a 52 week low of $36.13 and a 52 week high of $56.43. The stock has a market capitalization of $3.13 billion, a P/E ratio of 21.74 and a beta of 1.36. The stock has a fifty day moving average of $41.95 and a 200-day moving average of $45.57.

Methanex Dividend Announcement

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

Institutional Investors Weigh In On Methanex

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Methanex by 1.8% in the first quarter. Vanguard Group Inc. now owns 2,487,117 shares of the specialty chemicals company’s stock valued at $111,000,000 after acquiring an additional 43,178 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. boosted its stake in shares of Methanex by 9.9% in the 3rd quarter. Dixon Mitchell Investment Counsel Inc. now owns 1,182,168 shares of the specialty chemicals company’s stock valued at $49,022,000 after purchasing an additional 106,848 shares during the last quarter. Bank of Montreal Can raised its stake in Methanex by 16.3% during the second quarter. Bank of Montreal Can now owns 1,136,436 shares of the specialty chemicals company’s stock worth $55,406,000 after buying an additional 159,542 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Methanex by 3.4% during the second 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. Finally, Mackenzie Financial Corp lifted its holdings in Methanex by 3.4% in the second quarter. Mackenzie Financial Corp now owns 726,546 shares of the specialty chemicals company’s stock valued at $35,082,000 after buying an additional 23,747 shares during the period. Institutional investors and hedge funds own 73.49% of the company’s stock.

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.