Analysts Anticipate Methode Electronics, Inc. (MEI) to Post $0.65 Earnings Per Share
Brokerages expect that Methode Electronics, Inc. (NYSE:MEI) will post earnings of $0.65 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Methode Electronics’ earnings. The highest EPS estimate is $0.72 and the lowest is $0.60. Methode Electronics posted earnings per share of $0.63 during the same quarter last year, which would suggest a positive year over year growth rate of 3.2%. The business is expected to announce its next earnings results on Thursday, March 1st.
According to Zacks, analysts expect that Methode Electronics will report full year earnings of $2.60 per share for the current fiscal year, with EPS estimates ranging from $2.57 to $2.65. For the next year, analysts forecast that the company will post earnings of $2.96 per share, with EPS estimates ranging from $2.88 to $3.00. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that that provide coverage for Methode Electronics.
Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The firm had revenue of $230.10 million for the quarter, compared to analysts’ expectations of $218.03 million. During the same period in the prior year, the firm posted $0.66 earnings per share. The firm’s quarterly revenue was up 9.9% on a year-over-year basis.
A number of research analysts have commented on MEI shares. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. B. Riley restated a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a research note on Tuesday, December 5th. Robert W. Baird restated a “buy” rating and set a $46.00 price target on shares of Methode Electronics in a research note on Tuesday, October 17th. ValuEngine upgraded Methode Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Finally, FBR & Co restated a “buy” rating on shares of Methode Electronics in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Methode Electronics currently has a consensus rating of “Buy” and an average price target of $49.50.
A number of large investors have recently added to or reduced their stakes in the business. California Public Employees Retirement System lifted its stake in Methode Electronics by 6.2% during the third quarter. California Public Employees Retirement System now owns 83,193 shares of the electronics maker’s stock worth $3,523,000 after purchasing an additional 4,893 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Methode Electronics during the third quarter worth $201,000. Vident Investment Advisory LLC increased its position in shares of Methode Electronics by 14.0% during the third quarter. Vident Investment Advisory LLC now owns 55,258 shares of the electronics maker’s stock worth $2,340,000 after acquiring an additional 6,782 shares during the period. Royce & Associates LP increased its position in shares of Methode Electronics by 1.4% during the third quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock worth $52,095,000 after acquiring an additional 17,443 shares during the period. Finally, Stifel Financial Corp increased its position in shares of Methode Electronics by 6.5% during the third quarter. Stifel Financial Corp now owns 249,754 shares of the electronics maker’s stock worth $10,616,000 after acquiring an additional 15,293 shares during the period. Institutional investors own 89.95% of the company’s stock.
Methode Electronics (NYSE:MEI) opened at $42.20 on Friday. Methode Electronics has a twelve month low of $36.05 and a twelve month high of $48.44. The company has a market capitalization of $1,553.38, a P/E ratio of 16.48, a P/E/G ratio of 1.09 and a beta of 0.76. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.74 and a quick ratio of 3.81.
About Methode Electronics
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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