Brokerages predict that Methode Electronics Inc. (NYSE:MEI) will announce $0.68 earnings per share for the current quarter, according to Zacks. Two analysts have issued estimates for Methode Electronics’ earnings, with estimates ranging from $0.65 to $0.70. Methode Electronics reported earnings of $0.63 per share during the same quarter last year, which would indicate a positive year over year growth rate of 7.9%. The company is expected to issue its next earnings results on Thursday, August 29th.
According to Zacks, analysts expect that Methode Electronics will report full year earnings of $3.32 per share for the current fiscal year, with EPS estimates ranging from $3.31 to $3.33. For the next year, analysts expect that the firm will post earnings of $3.91 per share. Zacks’ EPS calculations are an average based on a survey of analysts that cover Methode Electronics.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, June 20th. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.08). Methode Electronics had a return on equity of 16.20% and a net margin of 9.16%. The business had revenue of $266.00 million during the quarter, compared to the consensus estimate of $274.36 million. During the same quarter in the previous year, the business earned $0.98 earnings per share. The firm’s revenue was up 6.8% compared to the same quarter last year.
Separately, Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. Methode Electronics presently has a consensus rating of “Hold” and a consensus target price of $40.25.
A number of hedge funds have recently made changes to their positions in the stock. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Methode Electronics by 111.2% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,077 shares of the electronics maker’s stock valued at $88,000 after buying an additional 1,620 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Methode Electronics by 71.7% in the second quarter. United Services Automobile Association now owns 107,024 shares of the electronics maker’s stock valued at $3,058,000 after purchasing an additional 44,700 shares in the last quarter. ClariVest Asset Management LLC grew its holdings in shares of Methode Electronics by 67.7% in the second quarter. ClariVest Asset Management LLC now owns 129,132 shares of the electronics maker’s stock valued at $3,690,000 after purchasing an additional 52,132 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Methode Electronics by 1,664.6% in the second quarter. Nuveen Asset Management LLC now owns 300,153 shares of the electronics maker’s stock valued at $8,575,000 after purchasing an additional 283,143 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its holdings in shares of Methode Electronics by 61.6% in the second quarter. UBS Asset Management Americas Inc. now owns 42,169 shares of the electronics maker’s stock valued at $1,205,000 after purchasing an additional 16,078 shares in the last quarter. 91.80% of the stock is currently owned by institutional investors.
MEI stock traded up $1.01 during trading on Friday, hitting $26.63. 127,300 shares of the stock traded hands, compared to its average volume of 199,419. Methode Electronics has a 1 year low of $20.99 and a 1 year high of $41.30. The firm’s 50 day moving average is $28.34 and its two-hundred day moving average is $28.16. The stock has a market cap of $966.13 million, a price-to-earnings ratio of 9.00 and a beta of 1.47. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.51 and a quick ratio of 1.86.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.65%. The ex-dividend date was Thursday, July 11th. Methode Electronics’s dividend payout ratio (DPR) is 14.86%.
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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