Methode Electronics (MEI) Releases FY19 Earnings Guidance

Methode Electronics (NYSE:MEI) updated its FY19 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.50-2.67 for the period, compared to the Thomson Reuters consensus estimate of $2.59. The company issued revenue guidance of lower end of $1.0-1.04 billion, compared to the consensus revenue estimate of $1.02 billion.Methode Electronics also updated its FY 2019 guidance to $2.50-2.67 EPS.

A number of equities analysts recently weighed in on the stock. B. Riley reissued a buy rating and issued a $42.00 price target on shares of Methode Electronics in a report on Friday, December 7th. Craig Hallum raised shares of Methode Electronics from a hold rating to a buy rating and boosted their price target for the stock from $25.00 to $42.00 in a report on Friday. Zacks Investment Research raised shares of Methode Electronics from a sell rating to a hold rating in a report on Thursday. ValuEngine raised shares of Methode Electronics from a strong sell rating to a sell rating in a report on Wednesday, December 5th. Finally, Robert W. Baird raised shares of Methode Electronics from a neutral rating to an outperform rating and set a $44.00 price target on the stock in a report on Tuesday, December 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $40.75.

Shares of NYSE:MEI opened at $29.72 on Friday. The company has a current ratio of 2.56, a quick ratio of 1.94 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $1.06 billion, a P/E ratio of 9.91 and a beta of 1.40. Methode Electronics has a fifty-two week low of $20.99 and a fifty-two week high of $45.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, March 7th. The electronics maker reported $0.83 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.23. The company had revenue of $246.90 million for the quarter, compared to the consensus estimate of $259.29 million. Methode Electronics had a net margin of 5.27% and a return on equity of 19.33%. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. On average, analysts expect that Methode Electronics will post 2.61 EPS for the current year.

In other Methode Electronics news, CEO Donald W. Duda acquired 70,848 shares of the company’s stock in a transaction on Tuesday, December 11th. The shares were acquired at an average cost of $23.79 per share, with a total value of $1,685,473.92. Following the completion of the acquisition, the chief executive officer now directly owns 699,034 shares in the company, valued at $16,630,018.86. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christopher J. Hornung acquired 8,200 shares of the company’s stock in a transaction on Friday, December 21st. The shares were acquired at an average cost of $22.16 per share, for a total transaction of $181,712.00. Following the completion of the acquisition, the director now owns 49,050 shares of the company’s stock, valued at $1,086,948. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 90,518 shares of company stock worth $2,153,707. Insiders own 3.40% of the company’s stock.

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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.

See Also: Cost of equity and a company’s balance sheet

Earnings History and Estimates for Methode Electronics (NYSE:MEI)

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