Methode Electronics (NYSE:MEI) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.350-$3.750 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.570. The company issued revenue guidance of $1.18 billion-$1.24 billion, compared to the consensus revenue estimate of $1.21 billion.
Shares of MEI traded up $0.86 during midday trading on Thursday, hitting $42.87. 171,512 shares of the company traded hands, compared to its average volume of 194,118. The stock has a 50-day moving average of $45.72 and a 200-day moving average of $46.02. Methode Electronics has a one year low of $23.97 and a one year high of $50.19. The firm has a market cap of $1.64 billion, a P/E ratio of 12.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.24 and a quick ratio of 2.54.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Wednesday, September 1st. The electronics maker reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Methode Electronics had a return on equity of 15.22% and a net margin of 11.03%. The firm had revenue of $287.80 million for the quarter. Sell-side analysts forecast that Methode Electronics will post 3.55 EPS for the current fiscal year.
Separately, Robert W. Baird set a $47.97 price objective on shares of Methode Electronics and gave the stock a hold rating in a research report on Wednesday, July 14th.
In other Methode Electronics news, VP Anil Shetty sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 30th. The shares were sold at an average price of $49.08, for a total transaction of $245,400.00. Following the transaction, the vice president now directly owns 96,000 shares in the company, valued at $4,711,680. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Amit N. Patel sold 1,000 shares of the stock in a transaction that occurred on Wednesday, June 30th. The shares were sold at an average price of $49.30, for a total transaction of $49,300.00. Following the transaction, the chief accounting officer now owns 7,807 shares in the company, valued at $384,885.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,968 shares of company stock worth $2,369,817. 4.30% of the stock is owned by company insiders.
About Methode Electronics
Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.
See Also: Stock Symbols and CUSIP Explained
Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.