Wall Street analysts expect that Methode Electronics Inc. (NYSE:MEI) will report $280.57 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Methode Electronics’ earnings, with estimates ranging from $275.94 million to $285.20 million. Methode Electronics posted sales of $246.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.6%. The company is scheduled to announce its next earnings report on Thursday, March 5th.
On average, analysts expect that Methode Electronics will report full-year sales of $1.11 billion for the current year, with estimates ranging from $1.10 billion to $1.12 billion. For the next year, analysts forecast that the business will post sales of $1.18 billion, with estimates ranging from $1.18 billion to $1.19 billion. Zacks’ sales 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, December 5th. The electronics maker reported $0.63 EPS for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.13). Methode Electronics had a return on equity of 15.27% and a net margin of 10.13%. The business had revenue of $257.20 million for the quarter, compared to analyst estimates of $281.89 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was down 2.6% compared to the same quarter last year.
A number of brokerages have recently commented on MEI. Robert W. Baird upped their price target on Methode Electronics from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. ValuEngine lowered Methode Electronics from a “sell” rating to a “strong sell” rating in a report on Friday, January 3rd. Finally, Zacks Investment Research cut Methode Electronics from a “buy” rating to a “sell” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.75.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MEI. Massachusetts Financial Services Co. MA bought a new stake in Methode Electronics in the third quarter valued at $16,076,000. California Public Employees Retirement System lifted its stake in shares of Methode Electronics by 27.8% during the third quarter. California Public Employees Retirement System now owns 120,204 shares of the electronics maker’s stock valued at $4,044,000 after acquiring an additional 26,153 shares during the period. Millennium Management LLC lifted its stake in shares of Methode Electronics by 2,682.2% during the third quarter. Millennium Management LLC now owns 402,139 shares of the electronics maker’s stock valued at $13,527,000 after acquiring an additional 387,685 shares during the period. Rhumbline Advisers lifted its stake in shares of Methode Electronics by 6.4% during the third quarter. Rhumbline Advisers now owns 128,036 shares of the electronics maker’s stock valued at $4,307,000 after acquiring an additional 7,647 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of Methode Electronics by 1,664.6% during the second quarter. Nuveen Asset Management LLC now owns 300,153 shares of the electronics maker’s stock valued at $8,575,000 after acquiring an additional 283,143 shares during the period. Institutional investors and hedge funds own 93.12% of the company’s stock.
Shares of MEI stock opened at $33.30 on Monday. Methode Electronics has a 12 month low of $24.33 and a 12 month high of $41.70. The firm has a market cap of $1.26 billion, a PE ratio of 11.94 and a beta of 1.54. The stock has a 50 day moving average of $37.75 and a 200-day moving average of $34.59. The company has a quick ratio of 1.80, a current ratio of 2.53 and a debt-to-equity ratio of 0.39.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 17th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Thursday, January 16th. Methode Electronics’s dividend payout ratio is presently 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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