Methode Electronics (NYSE:MEI) Releases Earnings Results, Misses Expectations By $0.10 EPS

Methode Electronics (NYSE:MEI) announced its earnings results on Wednesday. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10), Zacks reports. Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. The business had revenue of $298.10 million during the quarter, compared to the consensus estimate of $238.46 million.

Methode Electronics Price Performance

Shares of MEI traded down $0.24 during trading hours on Wednesday, hitting $13.15. 830,095 shares of the company were exchanged, compared to its average volume of 627,664. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.50. Methode Electronics has a fifty-two week low of $4.88 and a fifty-two week high of $15.55. The company has a market cap of $466.08 million, a price-to-earnings ratio of -7.23 and a beta of 1.59. The firm’s fifty day moving average is $10.35 and its 200 day moving average is $8.27.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, July 17th. Methode Electronics’s dividend payout ratio is -10.99%.

Institutional Investors Weigh In On Methode Electronics

Several institutional investors and hedge funds have recently bought and sold shares of the company. EverSource Wealth Advisors LLC increased its stake in shares of Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 2,815 shares during the last quarter. Mackenzie Financial Corp bought a new stake in shares of Methode Electronics during the 3rd quarter worth $103,000. XTX Topco Ltd acquired a new stake in Methode Electronics in the second quarter valued at about $107,000. Quantbot Technologies LP boosted its stake in Methode Electronics by 92.7% in the third quarter. Quantbot Technologies LP now owns 17,331 shares of the electronics maker’s stock valued at $131,000 after buying an additional 8,336 shares in the last quarter. Finally, Strs Ohio bought a new position in Methode Electronics in the first quarter valued at about $133,000. Institutional investors own 95.49% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus target price of $8.50.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.