FY2024 EPS Estimates for Methanex Lifted by Raymond James

Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX - Equities research analysts at Raymond James raised their FY2024 earnings per share (EPS) estimates for Methanex in a research report issued to clients and investors on Tuesday, January 14th. Raymond James analyst S. Hansen now forecasts that the specialty chemicals company will earn $3.55 per share for the year, up from their prior estimate of $3.46. Raymond James currently has a "Outperform" rating and a $60.00 target price 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 Q3 2025 earnings at $1.00 EPS.

Other equities analysts also recently issued reports about the stock. 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. Cibc World Mkts upgraded Methanex from a "hold" rating to a "strong-buy" rating in a report on Tuesday, December 10th. UBS Group reduced their target price on Methanex from $54.00 to $53.00 and set a "buy" rating on the stock in a research note on Thursday, November 7th. Barclays raised their price target on Methanex from $44.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Monday, November 11th. Finally, CIBC reissued an "outperformer" rating and set a $59.00 price objective (up from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.00.

Methanex Trading Down 0.7 %

NASDAQ:MEOH traded down $0.34 during midday trading on Thursday, reaching $49.85. 189,323 shares of the stock traded hands, compared to its average volume of 323,092. The stock has a market capitalization of $3.36 billion, a P/E ratio of 23.29 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 quick ratio of 1.01 and a current ratio of 1.34. The company has a fifty day moving average of $46.95 and a 200 day moving average of $44.86.

Methanex Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were given a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend was Tuesday, December 17th. Methanex's dividend payout ratio is presently 34.58%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Wilmington Savings Fund Society FSB purchased a new stake in Methanex in the third quarter worth about $40,000. EverSource Wealth Advisors LLC boosted its position 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 worth $93,000 after purchasing an additional 1,626 shares in the last quarter. Blue Trust Inc. boosted its position in shares of Methanex by 56.8% in the 3rd 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 purchased a new stake in shares of Methanex in the 2nd quarter worth approximately $201,000. Finally, Legacy Wealth Asset Management LLC bought a new position in Methanex during the 4th quarter valued at approximately $220,000. 73.49% of the stock is owned by hedge funds and other institutional investors.

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.