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Methanex (MEOH) Stock Moves -1.71%: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Methanex (MEOH) closed at $41.88, marking a -1.71% move from the previous day. This change was narrower than the S&P 500's 1.94% loss on the day. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.

Coming into today, shares of the methanol supplier had lost 0.28% in the past month. In that same time, the Basic Materials sector gained 7.06%, while the S&P 500 gained 5.72%.

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 $2.18, up 1353.33% 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 recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.19% lower. Methanex is currently a Zacks Rank #3 (Hold).

Digging into valuation, Methanex currently has a Forward P/E ratio of 8.97. Its industry sports an average Forward P/E of 12.68, 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 group has a Zacks Industry Rank of 100, putting it in the top 40% 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.

To follow MEOH in the coming trading sessions, be sure to utilize Zacks.com.


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