Analysts expect that Methode Electronics Inc. (NYSE:MEI) will post $267.48 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Methode Electronics’ earnings, with the highest sales estimate coming in at $272.76 million and the lowest estimate coming in at $262.20 million. Methode Electronics posted sales of $223.40 million during the same quarter last year, which would indicate a positive year over year growth rate of 19.7%. The business is scheduled to report its next quarterly earnings report on Thursday, August 29th.
According to Zacks, analysts expect that Methode Electronics will report full year sales of $1.14 billion for the current year, with estimates ranging from $1.13 billion to $1.14 billion. For the next financial year, analysts forecast that the business will report sales of $1.19 billion. Zacks’ sales calculations are an average based on a survey of research firms that cover Methode Electronics.
Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, June 20th. The electronics maker reported $0.62 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.08). The firm had revenue of $266.00 million during the quarter, compared to analyst estimates of $274.36 million. Methode Electronics had a return on equity of 16.20% and a net margin of 9.16%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share.
Separately, Zacks Investment Research downgraded Methode Electronics from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 18th. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $40.25.
Large investors have recently made changes to their positions in the company. Clark Capital Management Group Inc. lifted its position in shares of Methode Electronics by 6.2% during the 2nd quarter. Clark Capital Management Group Inc. now owns 23,659 shares of the electronics maker’s stock valued at $676,000 after acquiring an additional 1,379 shares during the last quarter. THB Asset Management lifted its position in shares of Methode Electronics by 151.4% during the 1st quarter. THB Asset Management now owns 276,942 shares of the electronics maker’s stock valued at $7,970,000 after acquiring an additional 166,801 shares during the last quarter. Tributary Capital Management LLC lifted its position in shares of Methode Electronics by 25.6% during the 1st quarter. Tributary Capital Management LLC now owns 510,498 shares of the electronics maker’s stock valued at $14,692,000 after acquiring an additional 104,067 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Methode Electronics by 3,282.1% during the 1st quarter. Versant Capital Management Inc now owns 947 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 919 shares during the last quarter. Finally, ClariVest Asset Management LLC lifted its position in shares of Methode Electronics by 208.0% during the 1st quarter. ClariVest Asset Management LLC now owns 77,000 shares of the electronics maker’s stock valued at $2,217,000 after acquiring an additional 52,000 shares during the last quarter. Institutional investors own 91.80% of the company’s stock.
MEI traded up $1.01 during trading on Monday, reaching $26.63. The stock had a trading volume of 127,300 shares, compared to its average volume of 199,419. The firm has a market capitalization of $966.13 million, a price-to-earnings ratio of 9.00 and a beta of 1.47. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.40. Methode Electronics has a 1-year low of $20.99 and a 1-year high of $41.30. The stock has a 50 day moving average of $28.34 and a two-hundred day moving average of $28.16.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, July 11th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.65%. Methode Electronics’s dividend payout ratio (DPR) is presently 14.86%.
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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