Equities research analysts expect Methode Electronics Inc. (NYSE:MEI) to announce earnings per share of $0.58 for the current quarter, Zacks reports. Two analysts have made estimates for Methode Electronics’ earnings, with the highest EPS estimate coming in at $0.61 and the lowest estimate coming in at $0.54. Methode Electronics reported earnings per share of $0.60 in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.3%. The business is expected to announce its next earnings results on Thursday, August 30th.
On average, analysts expect that Methode Electronics will report full year earnings of $2.88 per share for the current fiscal year, with EPS estimates ranging from $2.87 to $2.89. For the next financial year, analysts forecast that the business will report earnings of $3.65 per share, with EPS estimates ranging from $3.59 to $3.70. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Methode Electronics.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, June 21st. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.24. Methode Electronics had a net margin of 6.30% and a return on equity of 19.04%. The company had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $247.16 million. During the same quarter in the prior year, the company posted $0.62 EPS. The business’s revenue was up 13.3% on a year-over-year basis.
A number of equities analysts have recently issued reports on MEI shares. ValuEngine cut shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, May 3rd. Finally, TheStreet upgraded shares of Methode Electronics from a “c+” rating to a “b+” rating in a research note on Monday, July 2nd. Three analysts have rated the stock with a sell rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $49.00.
Shares of Methode Electronics traded down $0.40, reaching $38.65, during mid-day trading on Friday, MarketBeat.com reports. The company’s stock had a trading volume of 152,480 shares, compared to its average volume of 228,085. Methode Electronics has a 1-year low of $36.75 and a 1-year high of $48.44. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 0.89 and a beta of 0.88. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.97 and a current ratio of 3.50.
The company also recently announced a quarterly dividend, which was paid on Friday, July 27th. Investors of record on Friday, July 13th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date was Thursday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is currently 14.67%.
Several institutional investors have recently made changes to their positions in MEI. First Trust Advisors LP increased its position in shares of Methode Electronics by 9.7% during the 4th quarter. First Trust Advisors LP now owns 40,436 shares of the electronics maker’s stock worth $1,621,000 after purchasing an additional 3,577 shares in the last quarter. Advisor Group Inc. increased its position in shares of Methode Electronics by 73.0% during the 4th quarter. Advisor Group Inc. now owns 3,965 shares of the electronics maker’s stock worth $159,000 after purchasing an additional 1,673 shares in the last quarter. Stone Ridge Asset Management LLC acquired a new stake in shares of Methode Electronics during the 4th quarter worth about $475,000. Teachers Advisors LLC increased its position in shares of Methode Electronics by 2.2% during the 4th quarter. Teachers Advisors LLC now owns 73,230 shares of the electronics maker’s stock worth $2,937,000 after purchasing an additional 1,593 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Methode Electronics during the 4th quarter worth about $777,000. Institutional investors and hedge funds own 92.10% of the company’s stock.
About Methode Electronics
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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