Methanex (MEOH) closed the most recent trading day at $43.76, moving +0.3% from the previous trading session. This move outpaced the S&P 500's daily gain of 0.28%. Elsewhere, the Dow gained 0.11%, while the tech-heavy Nasdaq added 0.14%.
Prior to today's trading, shares of the methanol supplier had gained 13.03% over the past month. This has outpaced the Basic Materials sector's gain of 5.34% and the S&P 500's gain of 0.12% 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 January 26, 2022. The company is expected to report EPS of $2.56, up 1606.67% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.3 billion, up 60.11% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Methanex. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Over the past month, the Zacks Consensus EPS estimate has moved 5.19% higher. Methanex currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Methanex has a Forward P/E ratio of 8.27 right now. This valuation marks a discount compared to its industry's average Forward P/E of 12.65.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 101, which puts it in the top 40% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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