Wall Street brokerages predict that Methode Electronics Inc. (NYSE:MEI) will report sales of $229.63 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Methode Electronics’ earnings, with the lowest sales estimate coming in at $228.26 million and the highest estimate coming in at $231.00 million. Methode Electronics reported sales of $201.20 million in the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings results before the market opens on Thursday, August 30th.

On average, analysts expect that Methode Electronics will report full-year sales of $963.71 million for the current fiscal year, with estimates ranging from $959.90 million to $967.51 million. For the next financial year, analysts expect that the business will report sales of $1.03 billion per share, with estimates ranging from $1.03 billion to $1.04 billion. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Methode Electronics.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, June 21st. The electronics maker reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.24. The firm had revenue of $249.00 million during the quarter, compared to analysts’ expectations of $247.16 million. Methode Electronics had a net margin of 6.30% and a return on equity of 19.04%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share.

A number of research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a report on Wednesday, August 8th. Finally, TheStreet upgraded shares of Methode Electronics from a “c+” rating to a “b+” rating in a report on Monday, July 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $49.00.

Shares of NYSE MEI opened at $39.85 on Friday. The company has a market cap of $1.50 billion, a P/E ratio of 13.28 and a beta of 0.79. The company has a quick ratio of 2.97, a current ratio of 3.50 and a debt-to-equity ratio of 0.08. Methode Electronics has a 52-week low of $36.75 and a 52-week high of $48.44.

The business also recently declared a quarterly dividend, which was paid on Friday, July 27th. Stockholders of record on Friday, July 13th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.10%. The ex-dividend date was Thursday, July 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 14.67%.

Several institutional investors have recently added to or reduced their stakes in MEI. Integrated Investment Consultants LLC acquired a new position in shares of Methode Electronics in the second quarter valued at approximately $113,000. Creative Planning acquired a new position in shares of Methode Electronics in the second quarter valued at approximately $202,000. Pitcairn Co. acquired a new position in shares of Methode Electronics in the first quarter valued at approximately $216,000. Hartford Investment Management Co. acquired a new position in shares of Methode Electronics in the second quarter valued at approximately $230,000. Finally, Dubuque Bank & Trust Co. boosted its holdings in shares of Methode Electronics by 24.8% in the first quarter. Dubuque Bank & Trust Co. now owns 6,293 shares of the electronics maker’s stock valued at $246,000 after buying an additional 1,250 shares during the period. Institutional investors own 98.61% of the company’s stock.

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.

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