Stock Track | Methanex Soars on Robust Q3 Earnings and Analyst Optimism

Stock Track

Nov 07, 2024

Methanex Corporation (MEOH) witnessed a significant surge in its stock price during pre-market trading on Wednesday, November 7th, following the release of its strong third-quarter earnings and positive analyst reactions.

The leading methanol producer and supplier reported a 13.6% year-over-year increase in revenue to $935 million for the quarter ended September 2024. Methanex's earnings per share (EPS) of $1.21 also outperformed analysts' expectations, representing a 175% surprise over the Zacks Consensus Estimate of $0.44. The company's robust financial performance was driven by higher sales volumes and improved pricing.

In response to the earnings report, UBS lowered its price target on Methanex slightly to $53 from $54 but maintained a "Buy" rating on the stock, reflecting continued optimism about the company's prospects. The positive sentiment from analysts, combined with the better-than-expected earnings results, contributed to the stock's significant pre-market rally.

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Methanex's earnings per share (EPS) of $1.21 also outperformed analysts' expectations, representing a 175% surprise over the Zacks Consensus Estimate of $0.44. The company's robust financial performance was driven by higher sales volumes and improved pricing.</p>\n\n<p>In response to the earnings report, UBS lowered its price target on Methanex slightly to $53 from $54 but maintained a \"Buy\" rating on the stock, reflecting continued optimism about the company's prospects. The positive sentiment from analysts, combined with the better-than-expected earnings results, contributed to the stock's significant pre-market rally.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MEOH","symbol_name":"梅思恩","start_time":0,"source_url":"","article_id":"1150505058","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1150505058","pubTimestamp":1730990006,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Methanex Corporation  witnessed a significant surge in its stock price during pre-market trading on Wednesday, November 7th, following the release of its strong third-quarter earnings and positive analyst reactions.The leading methanol producer and supplier reported a 13.6% year-over-year increase in revenue to $935 million for the quarter ended September 2024. 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