Analysts expect Methode Electronics Inc. (NYSE:MEI) to report earnings of $0.66 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Methode Electronics’ earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.72. Methode Electronics reported earnings per share of $0.63 in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The company is scheduled to report its next quarterly earnings report on Thursday, March 1st.
On average, analysts expect that Methode Electronics will report full-year earnings of $2.58 per share for the current fiscal year, with EPS estimates ranging from $2.53 to $2.65. For the next financial year, analysts forecast that the firm will post earnings of $3.00 per share, with EPS estimates ranging from $2.87 to $3.13. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Methode Electronics.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The business had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $218.03 million. During the same period in the prior year, the business earned $0.66 EPS. The business’s revenue for the quarter was up 9.9% compared to the same quarter last year.
In related news, Director Isabelle C. Goossen sold 2,500 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total transaction of $101,250.00. Following the completion of the sale, the director now directly owns 40,950 shares in the company, valued at approximately $1,658,475. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Elias Khoury sold 21,400 shares of the company’s stock in a transaction on Friday, December 21st. The stock was sold at an average price of $40.30, for a total value of $862,420.00. Following the sale, the vice president now owns 267,200 shares of the company’s stock, valued at $10,768,160. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of MEI. Wedge Capital Management L L P NC purchased a new stake in shares of Methode Electronics during the 3rd quarter worth $18,433,000. Formula Growth Ltd. raised its stake in Methode Electronics by 87.1% in the third quarter. Formula Growth Ltd. now owns 280,700 shares of the electronics maker’s stock valued at $11,888,000 after buying an additional 130,700 shares during the last quarter. Heartland Advisors Inc. purchased a new stake in Methode Electronics in the third quarter valued at about $4,894,000. Ameriprise Financial Inc. raised its stake in Methode Electronics by 33.5% in the second quarter. Ameriprise Financial Inc. now owns 443,393 shares of the electronics maker’s stock valued at $18,268,000 after buying an additional 111,170 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in Methode Electronics by 91.4% in the third quarter. Prudential Financial Inc. now owns 210,706 shares of the electronics maker’s stock valued at $8,924,000 after buying an additional 100,640 shares during the last quarter. Hedge funds and other institutional investors own 86.60% of the company’s stock.
Shares of Methode Electronics (NYSE:MEI) opened at $41.35 on Tuesday. Methode Electronics has a 1-year low of $36.05 and a 1-year high of $48.44. The firm has a market capitalization of $1,598.04, a price-to-earnings ratio of 16.95, a price-to-earnings-growth ratio of 1.08 and a beta of 0.78. The company has a debt-to-equity ratio of 0.17, a current ratio of 3.74 and a quick ratio of 3.22.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were paid a dividend of $0.11 per share. This is a boost from Methode Electronics’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Thursday, January 11th. Methode Electronics’s dividend payout ratio is 18.03%.
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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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