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Methanex (MEOH) closed at $44.67 in the latest trading session, marking a -1.26% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.89%. Elsewhere, the Dow lost 1.3%, while the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the methanol supplier had gained 6.05% over the past month. This has lagged the Basic Materials sector's gain of 6.9% and outpaced the S&P 500's loss of 1.79% 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. On that day, Methanex is projected to report earnings of $2.56 per share, which would represent year-over-year growth of 1606.67%. Our most recent consensus estimate is calling for quarterly revenue 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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 12.24% higher. Methanex currently has a Zacks Rank of #3 (Hold).
Digging into valuation, Methanex currently has a Forward P/E ratio of 8.02. Its industry sports an average Forward P/E of 12.73, 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 152, which puts it in the bottom 41% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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