Methode Electronics (NYSE:MEI) Announces Earnings Results

Methode Electronics (NYSE:MEI) announced its quarterly earnings results on Thursday. The electronics maker reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.03), Yahoo Finance reports. The firm had revenue of $258.50 million for the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative net margin of 11.06% and a negative return on equity of 1.78%. During the same period in the previous year, the business posted $0.06 earnings per share.

Methode Electronics Stock Down 5.8 %

MEI traded down $0.60 during midday trading on Friday, reaching $9.74. The company’s stock had a trading volume of 364,574 shares, compared to its average volume of 568,554. The stock’s 50-day moving average is $11.19 and its 200-day moving average is $12.32. Methode Electronics has a 1 year low of $8.54 and a 1 year high of $27.11. The firm has a market capitalization of $344.70 million, a price-to-earnings ratio of -2.79 and a beta of 0.71. The company has a current ratio of 2.76, a quick ratio of 1.95 and a debt-to-equity ratio of 0.43.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.14 dividend. The ex-dividend date was Friday, July 12th. This represents a $0.56 annualized dividend and a yield of 5.75%. Methode Electronics’s payout ratio is -16.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MEI. Robert W. Baird lowered their target price on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.