Equities research analysts predict that Methode Electronics Inc. (NYSE:MEI) will post $0.72 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Methode Electronics’ earnings, with the highest EPS estimate coming in at $0.77 and the lowest estimate coming in at $0.66. Methode Electronics reported earnings per share of $0.98 in the same quarter last year, which indicates a negative year over year growth rate of 26.5%. The company is expected to issue its next earnings report on Thursday, June 20th.
On average, analysts expect that Methode Electronics will report full-year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.50 to $2.61. For the next financial year, analysts anticipate that the firm will post earnings of $3.58 per share, with EPS estimates ranging from $3.45 to $3.70. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Methode Electronics.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, March 7th. The electronics maker reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.23. The firm had revenue of $246.90 million during the quarter, compared to the consensus estimate of $259.29 million. Methode Electronics had a net margin of 10.76% and a return on equity of 18.64%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS.
MEI has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Craig Hallum raised shares of Methode Electronics from a “hold” rating to a “buy” rating and raised their price target for the stock from $25.00 to $42.00 in a report on Friday, March 8th. One 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. Methode Electronics presently has an average rating of “Hold” and a consensus price target of $40.25.
Methode Electronics stock opened at $29.75 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.83 and a current ratio of 2.53. The firm has a market cap of $1.09 billion, a PE ratio of 9.92 and a beta of 1.45. Methode Electronics has a fifty-two week low of $20.99 and a fifty-two week high of $45.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Friday, April 12th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Thursday, April 11th. Methode Electronics’s dividend payout ratio (DPR) is presently 14.67%.
In other news, CAO Amit N. Patel purchased 1,021 shares of the business’s stock in a transaction on Tuesday, March 26th. The shares were acquired at an average price of $27.54 per share, with a total value of $28,118.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.40% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. First Interstate Bank grew its holdings in Methode Electronics by 13.4% in the 4th quarter. First Interstate Bank now owns 4,311 shares of the electronics maker’s stock worth $100,000 after acquiring an additional 510 shares during the last quarter. Chartwell Investment Partners LLC grew its holdings in Methode Electronics by 0.8% in the 1st quarter. Chartwell Investment Partners LLC now owns 75,078 shares of the electronics maker’s stock worth $2,161,000 after acquiring an additional 615 shares during the last quarter. First Trust Advisors LP grew its holdings in Methode Electronics by 1.5% in the 4th quarter. First Trust Advisors LP now owns 41,999 shares of the electronics maker’s stock worth $978,000 after acquiring an additional 623 shares during the last quarter. Texas Permanent School Fund grew its holdings in Methode Electronics by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 24,204 shares of the electronics maker’s stock worth $564,000 after acquiring an additional 932 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in shares of Methode Electronics by 11.4% during the 4th quarter. SG Americas Securities LLC now owns 22,291 shares of the electronics maker’s stock valued at $519,000 after purchasing an additional 2,284 shares in the last quarter. 97.34% of the stock is currently owned by institutional investors and hedge funds.
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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