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Surging Earnings Estimates Signal Good News for Methanex Corporation (MEOH)
Methanex Corporation (MEOH - Free Report) produces and supplies methanol that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MEOH’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Methanex Corporation could be a solid choice for investors.
Current Quarter Estimates for MEOH
In the past 30 days, two estimates have gone higher for Methanex Corporation while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from $1.02 a share 30 days ago, to $1.15 today, a move of 12.8%.
Current Year Estimates for MEOH
Meanwhile, Methanex Corporation current year figures are also looking quite promising, with two estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from $4.04 per share 30 days ago to $4.17 per share today, an increase of 2.5%.
Methanex Corporation Price and Consensus
Methanex Corporation Price and Consensus | Methanex Corporation Quote
Bottom Line
The stock has also started to move higher lately, adding 19% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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