Methanex Corporation MEOH is a Chemical Diversified company 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 could be a solid choice for investors.
Current Quarter Estimates for MEOH
In the past 30 days, 2 estimates have gone higher for Methanex while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from earnings of 75 cents a share 30 days ago, to earnings of $1.07, a significant move.
Current Year Estimates for MEOH
Methanex Corporation Price and Consensus
Meanwhile, Methanex's current year figures are also looking quite promising, with 2 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from earnings of $1.93 per share 30 days ago to earnings of $2.20 per share today, a significant move.
The stock has also started to move higher lately, adding 10% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) 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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