Raymond James Has Strong Estimate for Methanex Q4 Earnings

Methanex Co. (NASDAQ:MEOH - Free Report) TSE: MX - Raymond James raised their Q4 2024 earnings per share (EPS) estimates for Methanex in a note issued to investors on Tuesday, January 14th. Raymond James analyst S. Hansen now forecasts that the specialty chemicals company will post earnings per share of $1.17 for the quarter, up from their prior forecast of $1.08. Raymond James has a "Outperform" rating and a $60.00 price objective 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 Q1 2025 earnings at $1.56 EPS, Q2 2025 earnings at $0.93 EPS, Q4 2025 earnings at $1.85 EPS, FY2025 earnings at $5.34 EPS and FY2026 earnings at $6.12 EPS.

MEOH has been the subject of a number of other reports. 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 report on Tuesday, November 19th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $55.00 price target on shares of Methanex in a report on Monday, January 6th. Cibc World Mkts upgraded shares of Methanex from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, December 10th. StockNews.com upgraded Methanex from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Finally, CIBC reiterated an "outperformer" rating and issued a $59.00 target price (up from $48.00) on shares of Methanex in a research report on Tuesday, December 10th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

Methanex Price Performance

MEOH traded down $0.53 on Friday, hitting $49.32. 479,259 shares of the company's stock traded hands, compared to its average volume of 337,287. The company's 50 day simple moving average is $47.09 and its 200-day simple moving average is $44.87. The company has a current ratio of 1.34, a quick ratio of 1.01 and a debt-to-equity ratio of 0.79. Methanex has a one year low of $36.13 and a one year high of $56.43. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of 23.05 and a beta of 1.37.

Methanex Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were given a dividend of $0.185 per share. The ex-dividend date of this dividend was Tuesday, December 17th. This represents a $0.74 dividend on an annualized basis and a yield of 1.50%. Methanex's dividend payout ratio (DPR) is presently 34.58%.

Hedge Funds Weigh In On Methanex

Institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Methanex by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 104,871 shares of the specialty chemicals company's stock valued at $4,340,000 after buying an additional 1,203 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of Methanex in the third quarter valued at $1,092,000. Point72 Asset Management L.P. lifted its holdings in shares of Methanex by 1,495.7% in the 3rd quarter. Point72 Asset Management L.P. now owns 138,827 shares of the specialty chemicals company's stock worth $5,739,000 after acquiring an additional 130,127 shares during the last quarter. Toronto Dominion Bank lifted its holdings in shares of Methanex by 19.6% in the 2nd quarter. Toronto Dominion Bank now owns 33,229 shares of the specialty chemicals company's stock worth $1,604,000 after acquiring an additional 5,451 shares during the last quarter. Finally, Barclays PLC boosted its stake in shares of Methanex by 64.9% during the 3rd quarter. Barclays PLC now owns 20,447 shares of the specialty chemicals company's stock worth $845,000 after purchasing an additional 8,047 shares during the period. 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.