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

This story originally appeared on Zacks

In the last trading session, Methanex (MEOH) closed at $41.88, recording a move of 1.71% over the previous day. That change was narrower than the S&P 500’s loss of 1.94% today. Meanwhile, the Dow Jones lost 1.07%, and the tech-heavy Nasdaq lost 0.39%.

– Zacks

As of today, shares of methanol suppliers have lost 0.28% in the past month. At the same time, the basic materials sector rose 7.06%, while the S&P 500 rose 5.72%.

Investors are hoping for strength from Methanex as it nears its next earnings release, which is expected to be January 26, 2022. The company is expected to report earnings per share of $2.18, up 1353.33% from the previous quarter. Meanwhile, Zacks revenue estimates forecast net sales of $1.3 billion, up 60.11% from the same period last year.

Investors may also note the recent changes in analyst estimates for Methanex. These recent reviews tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive rating reviews as a good sign of the company’s business outlook.

Based on our research, we believe that these discretionary reviews are directly related to stock movements close to the team. To take advantage of this, we have developed Zacks Rank, a proprietary model that takes these discretionary changes into account and provides an actionable ranking system.

The Zacks Rank system ranges from #1 (strong buy) to #5 (strong sell). It has a proven track record of success, subject to external scrutiny, with the No. 1 stock having generated an average annual return of over 25% since 1988. Over the past month, Zacks Consensus EPS estimate is down 5.19%. Methanex is currently Zacks Ranking #3 (Hold).

When researching valuation, Methanex currently has a forward P/E ratio of 8.97. Its industry has an average P/E forward of 12.68, so one might conclude that Methanex is trading at a relatively discount.

The chemical industry – diversified is part of the basic materials sector. This group has a Zacks Industry 100 rating, placing it in the top 40% of all 250+ industries.

Zacks Industry Ranks are listed in order from best to worst in terms of the average Zacks rating of individual companies in each of these sectors. Our research shows that industries ranked 50% outperform the bottom half by a factor of 2 to 1.

To follow MEOH in upcoming trading sessions, be sure to use Zacks.com.

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