Zacks: Analysts Anticipate Methode Electronics Inc. (NYSE:MEI) Will Announce Earnings of $0.68 Per Share

Equities analysts expect Methode Electronics Inc. (NYSE:MEI) to post earnings of $0.68 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Methode Electronics’ earnings, with the highest EPS estimate coming in at $0.70 and the lowest estimate coming in at $0.65. Methode Electronics posted earnings per share of $0.63 in the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 29th.

On average, analysts expect that Methode Electronics will report full-year earnings of $3.32 per share for the current financial year, with EPS estimates ranging from $3.31 to $3.33. For the next fiscal year, analysts anticipate that the firm will post earnings of $3.91 per share. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Methode Electronics.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, June 20th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.08). The business had revenue of $266.00 million during the quarter, compared to analyst estimates of $274.36 million. Methode Electronics had a net margin of 9.16% and a return on equity of 16.20%. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share.



Separately, Zacks Investment Research downgraded Methode Electronics from a “hold” rating to a “strong sell” rating in a report on Thursday, July 18th. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Methode Electronics presently has a consensus rating of “Hold” and an average target price of $40.25.

MEI traded down $0.23 on Friday, reaching $25.84. The company’s stock had a trading volume of 1,446 shares, compared to its average volume of 211,589. The business has a 50 day simple moving average of $28.39. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $990.22 million, a P/E ratio of 8.72 and a beta of 1.47. Methode Electronics has a fifty-two week low of $20.99 and a fifty-two week high of $41.30.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Thursday, July 11th. Methode Electronics’s dividend payout ratio (DPR) is 14.86%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Methode Electronics in the fourth quarter valued at approximately $316,000. Clark Capital Management Group Inc. boosted its holdings in shares of Methode Electronics by 6.2% in the second quarter. Clark Capital Management Group Inc. now owns 23,659 shares of the electronics maker’s stock valued at $676,000 after acquiring an additional 1,379 shares during the period. THB Asset Management boosted its holdings in shares of Methode Electronics by 151.4% in the first quarter. THB Asset Management now owns 276,942 shares of the electronics maker’s stock valued at $7,970,000 after acquiring an additional 166,801 shares during the period. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Methode Electronics by 330.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 12,051 shares of the electronics maker’s stock valued at $281,000 after acquiring an additional 9,251 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in shares of Methode Electronics by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 302,525 shares of the electronics maker’s stock valued at $7,046,000 after acquiring an additional 2,867 shares during the period. 91.80% of the stock is owned by hedge funds and other institutional investors.

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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