Zacks Research Has Bullish Estimate for Methanex Q4 Earnings

Methanex Co. (TSE:MX - Free Report) NASDAQ: MEOH - Research analysts at Zacks Research raised their Q4 2024 earnings per share estimates for Methanex in a note issued to investors on Monday, November 25th. Zacks Research analyst R. Department now forecasts that the company will post earnings per share of $0.91 for the quarter, up from their prior estimate of $0.89. The consensus estimate for Methanex's current full-year earnings is $5.95 per share. Zacks Research also issued estimates for Methanex's Q1 2025 earnings at $1.24 EPS.

A number of other analysts have also weighed in on MX. Barclays lowered shares of Methanex from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 10th. Piper Sandler raised Methanex from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 7th. Finally, Tudor Pickering raised shares of Methanex to a "strong-buy" rating in a research note on Wednesday, September 11th.

Methanex Price Performance

MX stock traded up C$0.15 during midday trading on Wednesday, reaching C$65.27. The company had a trading volume of 76,707 shares, compared to its average volume of 109,076. The stock has a 50 day moving average price of C$57.74 and a 200-day moving average price of C$62.60. The company has a market capitalization of C$4.40 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 0.44 and a beta of 1.79. The company has a debt-to-equity ratio of 131.58, a current ratio of 1.25 and a quick ratio of 1.59. Methanex has a 1-year low of C$49.21 and a 1-year high of C$74.25.

Methanex (TSE:MX - Get Free Report) NASDAQ: MEOH last issued its quarterly earnings data on Wednesday, November 6th. The company reported C$1.65 earnings per share for the quarter, beating the consensus estimate of C$0.60 by C$1.05. Methanex had a net margin of 4.06% and a return on equity of 10.21%. The company had revenue of C$1.28 billion for the quarter, compared to analyst estimates of C$1.26 billion.

Insider Activity

In other news, Senior Officer Kevin Price bought 500 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of C$50.69 per share, with a total value of C$25,347.00. Also, Director Leslie O'donoghue bought 2,500 shares of the stock in a transaction on Tuesday, September 24th. The stock was purchased at an average price of C$54.75 per share, for a total transaction of C$136,876.00. Insiders bought a total of 4,953 shares of company stock worth $262,064 over the last quarter. 0.35% of the stock is currently owned by corporate insiders.

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.