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Methanex (MEOH) Gains As Market Dips: What You Should Know

Methanex (MEOH) closed the most recent trading day at $55.30, moving +0.27% from the previous trading session. This change outpaced the S&P 500's 0.27% loss on the day. Meanwhile, the Dow gained 0.4%, and the Nasdaq, a tech-heavy index, lost 0.18%.

Heading into today, shares of the methanol supplier had gained 5.89% over the past month, outpacing the Basic Materials sector's gain of 5.7% and lagging the S&P 500's gain of 7.36% in that time.

Wall Street will be looking for positivity from Methanex as it approaches its next earnings report date. This is expected to be April 27, 2022. In that report, analysts expect Methanex to post earnings of $2.05 per share. This would mark year-over-year growth of 91.59%. Meanwhile, our latest consensus estimate is calling for revenue of $1.17 billion, up 15.22% from the prior-year quarter.

MEOH's full-year Zacks Consensus Estimates are calling for earnings of $5.61 per share and revenue of $4.22 billion. These results would represent year-over-year changes of -6.97% and -4.52%, respectively.

It is also important to note the recent changes to analyst estimates for Methanex. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.15% higher. Methanex is currently sporting a Zacks Rank of #1 (Strong Buy).

Digging into valuation, Methanex currently has a Forward P/E ratio of 9.83. For comparison, its industry has an average Forward P/E of 11.53, which means Methanex is trading at a discount to the group.

The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 165, which puts it in the bottom 35% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.


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