MEOH Stock Summary and Trading Ideas (Methanex | NASDAQ:MEOH)

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 trades on the NASDAQ stock market under the symbol MEOH.

As of April 17, 2024, MEOH stock price declined to $46.89 with 253,735 million shares trading.

MEOH has a beta of 0.75, meaning it tends to be less sensitive to market movements. MEOH has a correlation of 0.08 to the broad based SPY ETF.

MEOH has a market cap of $3.16 billion. This is considered a Mid Cap stock.

Last quarter Methanex reported $922 million in Revenue and $.52 earnings per share. This beat revenue expectation by $60 million and exceeded earnings estimates by $.20.

In the last 3 years, MEOH stock traded as high as $56.79 and as low as $28.73.

The top ETF exchange traded funds that MEOH belongs to (by Net Assets): DFAI, DFIC, DISV, DFIS, MGNR.

MEOH has underperformed the market in the last year with a price return of +2.6% while the SPY ETF gained +22.5%. However, in the short term, MEOH had mixed performance relative to the market. It has outperformed in the last 3 months, returning +8.4% vs +6.3% return in SPY. But in the last 2 weeks, MEOH shares have been beat by the market, returning -3.7% compared to an SPY return of -3.6%.

MEOH support price is $46.54 and resistance is $48.51 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MEOH stock will trade within this expected range on the day.