Ultime notizie per Methanex (NASDAQ:MEOH) Azioni

Methanex

Methanex Corp manufactures and sells methanol. Methanex's customers use methanol as a feedstock to produce end-products including adhesives, foams, solvents, and windshield washer fluids. The firm also sells its products to the oil refining industry, where the methanol is blended with gasoline to produce a high-octane fuel or blended as a component of biodiesel. Methanex distributes its products through a global supply chain that includes the operation of port terminals, tankers, barges, rail cars, trucks, and pipelines. China generates the most revenue of any geographical segment.

Methanex Corp

METHANEX ORD

Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) is set to give its latest quarterly earnings report on Wednesday, 2024-11-06. Here's what investors need to know before the announcement.
Analysts estimate that Methanex will report an earnings per share (EPS) of $0.57. 
Anticipation surrounds Methanex's announcement, with investors hoping to hear about both surpassing estimates and receiving positive guidance for the next quarter.
New investors should understand that while earnings performance is important, market reactions are often driven by guidance.
<h3>Earnings Track Record</h3>
During the last quarter, the company reported an EPS beat by $0.07, leading to a 4.09% increase in the share price on the subsequent day.
Here's a look at Methanex's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.55</td>
<td>0.39</td>
<td>0.32</td>
<td>-0.05</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.62</td>
<td>0.65</td>
<td>0.52</td>
<td>0.02</td>
</tr>
<tr>
<td>Price Change %</td>
<td>4.0%</td>
<td>0.0%</td>
<td>4.0%</td>
<td>5.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730826130_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Methanex were trading at $39.19 as of November 04. Over the last 52-week period, shares are down 4.7%. Given that these returns are generally negative, long-term shareholders are likely a little upset going into this earnings release. 
<a href="https://www.benzinga.com/quote/MEOH/earnings">To track all earnings releases for Methanex visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings

MEOH

Exploring Methanex's Earnings Expectations

UBS analyst Joshua Spector maintains Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Buy and lowers the price target from $58 to $54.

News

Price Target

Analyst Ratings

UBS Maintains Buy on Methanex, Lowers Price Target to $54

Raymond James analyst Steve Hansen maintains Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Outperform and lowers the price target from $62 to $54.

Raymond James Maintains Outperform on Methanex, Lowers Price Target to $54

Shares of Methanex Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) have been on a downtrend since the company announced it had inked a definitive agreement to buy OCI Global&#8216;s <a href="https://www.benzinga.com/24/09/40771196/methanex-merck-and-other-big-stocks-moving-lower-in-mondays-pre-market-session">international methanol business</a>.
Concerns around the transaction risks associated with the acquisition are unlikely to be "easily assuaged" in the near term, according to Barclays <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5ea2fca60cd8860001a1bad2/michael-leithead">analyst Mike Leithead</a>.
Leithead downgraded the rating for Methanex to Equal-Weight, while cutting the price target from $56 to $44.
The Methanex Thesis: The company has agreed to acquire OCI&#8217;s methanol business for $2.05 billion, Leithead said in the downgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
While there are "long-term strategic merits" from this deal, "investor concerns around the transaction risks are neither likely to be easily assuaged in the near term nor sufficiently discounted / de-risked in current equity valuation," the analyst wrote. The acquisition spells added leverage, which brings increased volatility, he added.
For many investors, the bull case for Methanex was based on "a step-change in earnings power / cash conversion as G3 ramps up in 2H&#8217;24 and the resumption of returning healthy amounts of cash to investors starting in 2025," Leithead wrote. 
"That no longer will be the case and this thesis pivot likely leads to some ownership rotation, which also presents an overhang on shares," he further stated.
MEOH Price Action: Shares of Methanex had declined by 5% to $37.14 at the time of publication on Tuesday.
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Image: Shutterstock

Analyst Color

Downgrades

Movers

Trading Ideas

Methanex Analyst Says $2B Acquisition Will Be An Overhang On Shares

Piper Sandler analyst Charles Neivert maintains Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Overweight and raises the price target from $51 to $68.

Piper Sandler Maintains Overweight on Methanex, Raises Price Target to $68

WIIM

Methanex shares are trading lower after Barclays downgraded the stock from Overweight to Equal-Weight and lowered its price target from $56 to $44.

Barclays analyst Michael Leithead downgrades Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) from Overweight to Equal-Weight and lowers the price target from $56 to $44.

Barclays Downgrades Methanex to Equal-Weight, Lowers Price Target to $44

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Monday.
Following the market opening Friday, the Dow traded up 0.58% to 40,581.00 while the NASDAQ rose 1.09% to 16,872.46. The S&amp;P 500 also rose, gaining, 0.85% to 5,454.18.
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Leading and Lagging Sectors Consumer discretionary shares surged by 1.5% on Monday.
In trading on Monday, utilities shares fell by 0.2%.
Top Headline
Methanex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) disclosed that it has entered into a definitive agreement to acquire OCI Global‘s international methanol business for $2.05 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Sintx Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SINT#NASDAQ">SINT</a>) shares shot up 123% to $6.30 after the company announced it received a Notice of Allowance from the United States Patent and Trademark Office for patent application no. 17/634,141 entitled &#8220;Methods of Surface Functionalization of Zirconia-Toughed Alumina with Silicon Nitride Ceramic.&#8221;</li>
<li>Shares of Intelligent Bio Solutions Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INBS#NASDAQ">INBS</a>) got a boost, surging 66% to $2.62 after the company announced preliminary fourth-quarter revenue results of $730K and FY24 revenue of $3.11 million.</li>
<li>Relay Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RLAY#NASDAQ">RLAY</a>) shares were also up, gaining 37% to $8.53 after the company reported interim data for its breast cancer treatment.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Edgio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EGIO#NASDAQ">EGIO</a>) shares dropped 65% to $2.13. Edgio launched a strategic financial restructuring to facilitate sale and strengthen operations.</li>
<li>Shares of Pineapple Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEGY#NASDAQ">PEGY</a>) were down 63% to $0.2997 after the company entered into exchange agreements to swap Series A preferred stock and warrants for Series C preferred stock, convertible at $0.45 per share.</li>
<li>Wheeler Real Estate Investment Trust, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WHLR#NASDAQ">WHLR</a>) was down, falling 27% to $7.65.</li>
</ul>
Commodities In commodity news, oil traded up 0.1% to $67.75 while gold traded up 0.3% at $2,532.20.
Silver traded up 1.3% to $28.555 on Monday, while copper rose 1.5% to $4.1335.
Euro zone
European shares were higher today. The eurozone's STOXX 600 gained 0.6%, Germany's DAX gained 0.5% and France's CAC 40 rose 0.6%. Spain's IBEX 35 Index rose 0.6%, while London's FTSE 100 rose 0.6%.
The BNP Paribas Real Estate Construction PMI in Ireland edged higher to 50.0 in August from 49.9 in July.
Asia Pacific Markets
Asian markets closed mostly lower on Monday, with Japan's Nikkei 225 falling 0.48%, Hong Kong's Hang Seng Index declining 1.42%, China's Shanghai Composite Index falling 1.06% and India's BSE Sensex gaining 0.46%.
Foreign exchange reserves in Singapore declined to SGD 501.3 billion in August compared to SGD 506.4 billion a month ago. The gauge for Japan's service sector rose to 49.0 in August versus 47.5 in the prior month, while the country' economy expanded by 2.9% on an annualized basis during the second quarter.
China&#8217;s annual inflation rate accelerated to 0.6% in August from 0.5% in the prior month, while producer prices fell by 1.8% year-over-year in August.
Economics
The Manheim Used Vehicle Value Index rose 1.2% month-over-month in August compared to a 2.8% gain in July.
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Equities

Eurozone

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Intraday Update

Markets

EGIO

Intelligent Bio Solutions Inc. - Common Stock

INBS

PEGY

RLAY

SINT

WHLR

US Stocks Higher; Dow Surges Over 200 Points

U.S. stock futures were higher this morning, with the Nasdaq futures gaining around 150 points on Monday.
Shares of Methanex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) fell sharply in today's <a href="https://www.benzinga.com/markets/equities/24/09/40769930/methanex-to-buy-ocis-international-methanol-business-for-2-05b-details">pre-market trading.</a>
Methanex disclosed that it has entered into a definitive agreement to acquire OCI Global‘s international methanol business for $2.05 billion.
Methanex shares tumbled 6.3% to $39.79 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>C4 Therapeutics, Inc.. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CCCC#NASDAQ">CCCC</a>) shares dipped 17% to $4.48 in pre-market trading. C4 Therapeutics will reveal preliminary CFT1946 monotherapy Phase 1 clinical data at ESMO Congress 2024.</li>
<li>Lotus Technology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOT#NASDAQ">LOT</a>) shares fell 5.4% to $4.90 in pre-market trading after gaining around 6% on Friday.</li>
<li>Merck &amp; Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) fell 4.8% to $112.23 in pre-market trading. Daiichi Sankyo and Merck&#8217;s Ifinatamab Deruxtecan showed response rates in extensive-stage small cell lung cancer in Phase 2 IDeate-Lung01 trial.</li>
<li>Mercer International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MERC#NASDAQ">MERC</a>) shares declined 3.2% to $5.50 in pre-market trading. Adient will replace Mercer International in the S&amp;P SmallCap 600.</li>
<li>Whitestone REIT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WSR#NYSE">WSR</a>) shares fell 3.1% to $12.68 in pre-market trading.</li>
<li>QXO, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QXO#NASDAQ">QXO</a>) fell 2.3% to $13.97 in pre-market trading after gaining over 4% on Friday.</li>
<li>Emergent BioSolutions Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBS#NYSE">EBS</a>) shares slipped 2.3% to $7.34 in pre-market trading.</li>
</ul>
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CCCC

MERC

Methanex, Merck And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Methanex shares are trading lower after the company reported that it entered into a definitive agreement to acquire OCI Global's international methanol business for $2.05 billion.

Methanex Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) disclosed that it has entered into a definitive agreement to acquire OCI Global&#8216;s international methanol <a target="_blank" href="https://www.benzinga.com/pressreleases/24/09/g40765411/methanex-corporation-signs-definitive-agreement-to-acquire-oci-globals-international-methanol-busi" rel="noreferrer noopener">business for $2.05 billion</a>.
The deal encompasses OCI&#8217;s stakes in two major methanol facilities in Beaumont, Texas, one of which also produces ammonia, along with a low-carbon methanol production and marketing business and an idled methanol facility in the Netherlands.
Rich Sumner, President and Chief Executive Officer of Methanex, said, &#8220;This is a unique opportunity to create value by acquiring two highly attractive North American methanol assets that will further strengthen our global production base and we expect it will be immediately accretive to free cash flow per share.&#8221;
&#8220;The Beaumont plants benefit from access to North America&#8217;s abundant and favourably-priced supply of natural gas feedstock, and are expected to increase our <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">global methanol production by over 20 percent</a>.&#8221;
Through the OCI acquisition, Methanex expects to gain $30 million in annual cost synergies from reduced logistics and administrative expenses.
With minimal integration costs due to similar operating models, Methanex plans to enhance value by applying its global expertise and incorporating OCI assets into its operational and risk management processes.
OCI&#8217;s ammonia production, though smaller than its methanol output, offers Methanex a low-risk entry into a complementary commodity.
The transaction, which has been approved by both companies&#8217; boards, is expected to close in the first half of 2025.
It remains subject to regulatory approvals and other closing conditions, including TSX approval for the issuance of Methanex shares to OCI.
After the transaction, Methanex will have approximately 77 million shares outstanding, with OCI owning about 13%.
Methanex plans to fund the cash portion through a mix of cash on hand and new debt, supported by a fully committed financing package from the Royal Bank of Canada.
Dean Richardson, Senior Vice President, Finance &amp; Chief Financial Officer of Methanex, commented, &#8220;We expect the acquisition to add incremental annual Adjusted EBITDA of $275 million to our expected run-rate Adjusted EBITDA of $850 million at a $350/MT realized methanol price.&#8221;
&#8220;We remain firmly committed to maintaining financial flexibility and have in place a robust financing plan that will support de-levering to our target range of 2.5 to 3.0 times debt/Adjusted EBITDA within approximately 18 months from closing, assuming an average realized price of $350/MT. The plan includes the repayment of our $300 million bond as scheduled in December 2024.&#8221;
As of June-end, the company maintained a strong liquidity position <a target="_blank" href="https://www.benzinga.com/pressreleases/24/07/g40052912/geismar-3-g3-produces-first-methanol-and-methanex-reports-higher-second-quarter-2024-earnings" rel="noreferrer noopener">with a cash balance of $426 million</a>.
Investors can gain exposure to the stock via American Beacon Select Funds American Beacon GLG Natural Resources ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MGNR#NYSE">MGNR</a>).
Price Action: MEOH shares traded lower by 8.4% at $38.88 premarket at the last check Monday.
Image via Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Mid Cap

MGNR

Methanex To Buy OCI's International Methanol Business For $2.05B: Details

<ul>
<li>Unique opportunity to acquire world-scale producing methanol assets with access to robust North American natural gas feedstock</li>
<li>Aligns with Methanex&#39;s strategic priorities and value-creation strategy</li>
<li>Acquisition expected to be immediately accretive to free cash flow per share</li>
<li>OCI to hold a&nbsp;13 percent&nbsp;ownership interest upon closing</li>
</ul>

Reported Sunday, Methanex To Acquire OCI Global's Methanol Business For $2.05B, Expanding North American Operations

RBC Capital analyst Nelson Ng reiterates Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Sector Perform and maintains $55 price target.

Reiteration

TSX:MX

RBC Capital Reiterates Sector Perform on Methanex, Maintains $55 Price Target

UBS analyst Joshua Spector maintains Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Buy and lowers the price target from $62 to $58.

UBS Maintains Buy on Methanex, Lowers Price Target to $58

The company has entered into short-term commercial arrangements to provide its contracted natural gas into the New Zealand electricity market.
These commercial arrangements are expected to positively impact Methanex&#39;s&nbsp;Q3&nbsp;and&nbsp;Q4&nbsp;2024 earnings with after-tax proceeds expected to meaningfully exceed the margin lost on New Zealand methanol production delivered to customers.&nbsp;
Rich Sumner, President and CEO, commented, &quot;New Zealand&#39;s energy balances are currently very strained due to seasonally high demand combined with low hydro levels and relatively lower gas supply in 2024 compared with previous years. We have been working closely with energy providers, other gas users and the government of New Zealand on how we can be part of the solution.

Methanex Temporarily Idles Its Manufacturing Operations In New Zealand Until The End Of October 2024

UBS analyst Joshua Spector maintains Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) with a Buy and lowers the price target from $64 to $62.

UBS Maintains Buy on Methanex, Lowers Price Target to $62

Guidance

Methanex Expects Q3 Sales $350-$360 Per Ton

Methanex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MEOH#NASDAQ">MEOH</a>) reported quarterly earnings of $0.62 per share which beat the analyst consensus estimate of $0.52 by 19.23 percent. The company reported quarterly sales of $920.000 million which missed the analyst consensus estimate of $966.905 million by 4.85 percent. This is a 2.02 percent decrease over sales of $939.000 million the same period last year.

Earnings Beats

Earnings Misses

Methanex Q2 2024 Adj. EPS $0.62 Beats $0.52 Estimate, Sales $920.000M Miss $966.905M Estimate

Methanex, Entropy Enter Agreement To Invest In Pre-FEED Study For Carbon Capture, Utilization And Sequestration Deployment At Alberta Facility

Piper Sandler analyst Charles Neivert maintained a Buy rating on Methanex (MEOH – Research Report) today and set a price target of $68.00. The comp...

Piper Sandler Reaffirms Their Buy Rating on Methanex (MEOH)

Jefferies analyst Laurence Alexander maintained a Buy rating on Methanex (MEOH – Research Report) today and set a price target of $55.00. The compa...

Jefferies Keeps Their Buy Rating on Methanex (MEOH)

Methanex: Becoming A Methanol Giant

Deals this week: Qualcomm, Squarespace, Adnoc, General Mills and more

In a report released yesterday, Joel Jackson from BMO Capital maintained a Buy rating on Methanex (MEOH – Research Report), with a price target of ...

Methanex Acquisition of OCI Assets: A Strategic Win with Strong Free Cash Flow Prospects

Methanex (TSE:MX) has released an update. Methanex Corporation has announced a significant expansion by acquiring OCI N.V.'s international methanol...

Methanex Expands with $2.05 Billion Acquisition

In a report released today, Michael Leithead from Barclays maintained a Hold rating on Methanex (MEOH – Research Report), with a price target of $4...

Barclays Sticks to Their Hold Rating for Methanex (MEOH)

In a report released on October 27, Nelson Ng from RBC Capital maintained a Hold rating on Methanex (MEOH – Research Report), with a price target o...

Methanex (MEOH) Gets a Hold from RBC Capital

Methanex (TSE:MX) has released an update. Methanex Corporation has successfully secured financing for its $2.05 billion acquisition of OCI Global's...

Methanex Secures Financing for Major Acquisition

Scotiabank analyst Ben Isaacson maintained a Buy rating on Methanex (MEOH – Research Report) today and set a price target of $60.00. The company's ...

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Ultime notizie per Methanex (NASDAQ:MEOH) Azioni

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