Methode Electronics (NYSE:MEI) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.02-2.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.79. The company issued revenue guidance of $1-1.04 billion, compared to the consensus revenue estimate of $1.06 billion.Methode Electronics also updated its FY19 guidance to $2.02-2.33 EPS.
Shares of Methode Electronics stock opened at $23.47 on Wednesday. Methode Electronics has a one year low of $22.75 and a one year high of $45.45. The stock has a market cap of $888.03 million, a PE ratio of 7.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.56 and a quick ratio of 1.94.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, December 6th. The electronics maker reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate of $269.57 million. Methode Electronics had a return on equity of 19.33% and a net margin of 5.27%. The business’s revenue for the quarter was up 14.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. On average, sell-side analysts predict that Methode Electronics will post 2.61 earnings per share for the current year.
A number of equities analysts recently issued reports on MEI shares. Zacks Investment Research raised Methode Electronics from a sell rating to a hold rating in a report on Wednesday, August 22nd. ValuEngine downgraded Methode Electronics from a hold rating to a sell rating in a report on Thursday, September 6th. Robert W. Baird downgraded Methode Electronics from an outperform rating to a neutral rating in a report on Monday, October 1st. TheStreet downgraded Methode Electronics from a b- rating to a c+ rating in a report on Tuesday, October 2nd. Finally, Craig Hallum set a $25.00 price target on Methode Electronics and gave the company a hold rating in a report on Friday, December 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $37.00.
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Methode Electronics Company Profile
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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