Methode Electronics (NYSE:MEI) announced its earnings results on Thursday. The electronics maker reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.07, Morningstar.com reports. Methode Electronics had a return on equity of 16.20% and a net margin of 9.16%. The business had revenue of $270.20 million for the quarter, compared to analysts’ expectations of $268.15 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue was up 20.9% on a year-over-year basis. Methode Electronics updated its FY 2020 guidance to $3.25-3.55 EPS and its FY20 guidance to $3.25-3.55 EPS.
Shares of MEI stock opened at $28.41 on Thursday. The stock has a market capitalization of $1.05 billion, a PE ratio of 9.60 and a beta of 1.47. Methode Electronics has a one year low of $20.99 and a one year high of $40.95. The business’s 50 day simple moving average is $28.18 and its 200 day simple moving average is $28.21. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.51 and a quick ratio of 1.86.
Several analysts recently commented on MEI shares. ValuEngine upgraded Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Monday. Zacks Investment Research upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $40.25.
Methode Electronics Company Profile
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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