Raymond James Issues Positive Forecast for Methanex Earnings

Methanex Co. (NASDAQ:MEOH) (TSE:MX) – Equities researchers at Raymond James boosted their Q4 2024 EPS estimates for shares of Methanex in a report issued on Tuesday, January 14th. Raymond James analyst S. Hansen now expects that the specialty chemicals company will earn $1.17 per share for the quarter, up from their prior estimate 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.

Several other equities analysts also recently weighed in on MEOH. CIBC reiterated an “outperformer” rating and issued a $59.00 price target (up previously from $48.00) on shares of Methanex in a report on Tuesday, December 10th. Cibc World Mkts raised shares of Methanex from a “hold” rating to a “strong-buy” rating in a report on Tuesday, December 10th. Barclays increased their target price on shares of Methanex from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $55.00 price target on shares of Methanex in a research note on Monday, January 6th. Finally, UBS Group lowered their price target on Methanex from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, November 7th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.00.

Methanex Price Performance

Shares of MEOH opened at $49.85 on Friday. The company’s fifty day moving average price is $46.95 and its 200-day moving average price is $44.86. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.34 and a quick ratio of 1.01. The firm has a market capitalization of $3.36 billion, a PE ratio of 23.29 and a beta of 1.37. Methanex has a 1-year low of $36.13 and a 1-year high of $56.43.

Hedge Funds Weigh In On Methanex

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Truist Financial Corp raised its stake in Methanex by 5.0% in the 2nd quarter. Truist Financial Corp now owns 6,219 shares of the specialty chemicals company’s stock valued at $300,000 after purchasing an additional 294 shares during the last quarter. Bank of Hawaii grew its holdings in shares of Methanex by 4.2% during the third quarter. Bank of Hawaii now owns 11,470 shares of the specialty chemicals company’s stock worth $474,000 after buying an additional 465 shares in the last quarter. Value Partners Investments Inc. raised its position in shares of Methanex by 10.4% in the third quarter. Value Partners Investments Inc. now owns 5,642 shares of the specialty chemicals company’s stock valued at $233,000 after buying an additional 532 shares during the last quarter. Pinnacle Associates Ltd. lifted its stake in shares of Methanex by 3.4% in the third quarter. Pinnacle Associates Ltd. now owns 21,701 shares of the specialty chemicals company’s stock worth $897,000 after buying an additional 707 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in Methanex by 1.6% during the second quarter. The Manufacturers Life Insurance Company now owns 55,978 shares of the specialty chemicals company’s stock worth $2,699,000 after acquiring an additional 887 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

Methanex Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued 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 dividend yield of 1.48%. Methanex’s payout ratio is currently 34.58%.

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.