Methanex (MEOH) closed the most recent trading day at $39.85, moving +0.76% from the previous trading session. This change outpaced the S&P 500's 0.64% gain on the day. At the same time, the Dow added 0.68%, and the tech-heavy Nasdaq gained 0.46%.
Coming into today, shares of the methanol supplier had lost 0.58% in the past month. In that same time, the Basic Materials sector gained 6.43%, while the S&P 500 gained 4.56%.
Investors will be hoping for strength from Methanex as it approaches its next earnings release, which is expected to be January 26, 2022. The company is expected to report EPS of $1.32, up 780% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.3 billion, up 60.11% from the prior-year quarter.
Any recent changes to analyst estimates for Methanex should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 2.1% lower. Methanex is currently a Zacks Rank #3 (Hold).
In terms of valuation, Methanex is currently trading at a Forward P/E ratio of 6.78. Its industry sports an average Forward P/E of 13.49, so we one might conclude that Methanex is trading at a discount comparatively.
The Chemical - Diversified industry is part of the Basic Materials sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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Methanex Corporation (MEOH) : Free Stock Analysis Report
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