Analysts forecast that Methode Electronics (NYSE:MEI) will announce earnings of $0.74 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Methode Electronics’ earnings. Methode Electronics reported earnings per share of $0.69 in the same quarter last year, which suggests a positive year-over-year growth rate of 7.2%. The business is scheduled to announce its next quarterly earnings results on Thursday, June 28th.
On average, analysts expect that Methode Electronics will report full year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.79 to $2.80. For the next fiscal year, analysts forecast that the company will report earnings of $3.21 per share, with EPS estimates ranging from $3.12 to $3.30. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Methode Electronics.
Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.21. Methode Electronics had a net margin of 4.95% and a return on equity of 17.84%. The business had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $219.90 million. During the same period last year, the business earned $0.63 earnings per share. The firm’s revenue was up 16.6% on a year-over-year basis.
A number of equities analysts have commented on MEI shares. Zacks Investment Research cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Saturday, February 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $51.00 price objective (up from $48.00) on shares of Methode Electronics in a research report on Friday, March 2nd. Finally, TheStreet cut shares of Methode Electronics from a “b” rating to a “c+” rating in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. Methode Electronics currently has a consensus rating of “Hold” and an average target price of $48.75.
A number of hedge funds have recently added to or reduced their stakes in MEI. Westwood Holdings Group Inc. boosted its position in Methode Electronics by 227.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 1,364,275 shares of the electronics maker’s stock worth $54,707,000 after purchasing an additional 947,502 shares during the period. Ariel Investments LLC acquired a new stake in shares of Methode Electronics during the fourth quarter worth $14,580,000. Heartland Advisors Inc. lifted its holdings in shares of Methode Electronics by 205.2% during the fourth quarter. Heartland Advisors Inc. now owns 352,735 shares of the electronics maker’s stock worth $14,145,000 after buying an additional 237,170 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Methode Electronics by 2.9% during the fourth quarter. BlackRock Inc. now owns 4,570,332 shares of the electronics maker’s stock worth $183,270,000 after buying an additional 129,746 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of Methode Electronics by 593.7% during the fourth quarter. Martingale Asset Management L P now owns 88,234 shares of the electronics maker’s stock worth $3,539,000 after buying an additional 75,514 shares in the last quarter. 95.99% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:MEI traded up $0.15 during midday trading on Friday, hitting $39.00. The stock had a trading volume of 22,050 shares, compared to its average volume of 221,655. The company has a current ratio of 4.03, a quick ratio of 3.47 and a debt-to-equity ratio of 0.19. Methode Electronics has a 12 month low of $36.05 and a 12 month high of $48.44. The stock has a market capitalization of $1,433.46, a PE ratio of 15.24, a P/E/G ratio of 0.93 and a beta of 0.88.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be given a dividend of $0.11 per share. The ex-dividend date is Thursday, April 12th. This represents a $0.44 dividend on an annualized basis and a yield of 1.13%. Methode Electronics’s dividend payout ratio (DPR) is 17.25%.
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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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