Equities research analysts predict that Methode Electronics Inc. (NYSE:MEI) will report sales of $279.42 million for the current quarter, Zacks reports. Two analysts have provided estimates for Methode Electronics’ earnings, with the highest sales estimate coming in at $281.23 million and the lowest estimate coming in at $277.60 million. Methode Electronics reported sales of $249.00 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.2%. The firm is expected to announce its next quarterly earnings report on Thursday, June 20th.

On average, analysts expect that Methode Electronics will report full year sales of $1.01 billion for the current fiscal year, with estimates ranging from $1.01 billion to $1.02 billion. For the next year, analysts expect that the company will report sales of $1.14 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Methode Electronics.

Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, March 7th. The electronics maker reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. Methode Electronics had a net margin of 10.76% and a return on equity of 18.64%. The business had revenue of $246.90 million for the quarter, compared to analyst estimates of $259.29 million. During the same period last year, the business posted $0.65 EPS. Methode Electronics’s revenue was up 8.3% compared to the same quarter last year.

Several equities analysts recently issued reports on MEI shares. Craig Hallum raised shares of Methode Electronics from a “hold” rating to a “buy” rating and lifted their price target for the company from $25.00 to $42.00 in a report on Friday, March 8th. Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 price objective on the stock in a research report on Thursday, March 7th. B. Riley reissued a “buy” rating and issued a $42.00 price objective on shares of Methode Electronics in a research report on Friday, December 7th. ValuEngine upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 5th. Finally, Robert W. Baird upgraded shares of Methode Electronics from a “neutral” rating to an “outperform” rating and set a $44.00 target price on the stock in a report on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. Methode Electronics currently has a consensus rating of “Hold” and an average price target of $40.25.

Shares of Methode Electronics stock opened at $27.68 on Thursday. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 9.23 and a beta of 1.45. Methode Electronics has a fifty-two week low of $20.99 and a fifty-two week high of $45.45. The company has a quick ratio of 1.83, a current ratio of 2.53 and a debt-to-equity ratio of 0.43.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $0.11 dividend. The ex-dividend date is Thursday, April 11th. This represents a $0.44 annualized dividend and a yield of 1.59%. Methode Electronics’s payout ratio is 14.67%.

In other Methode Electronics news, CFO Ronald L.G. Tsoumas purchased 5,735 shares of the stock in a transaction dated Friday, December 28th. The shares were purchased at an average cost of $24.98 per share, with a total value of $143,260.30. Following the completion of the acquisition, the chief financial officer now directly owns 91,501 shares in the company, valued at approximately $2,285,694.98. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. First Interstate Bank lifted its stake in shares of Methode Electronics by 13.4% in the 4th quarter. First Interstate Bank now owns 4,311 shares of the electronics maker’s stock valued at $100,000 after purchasing an additional 510 shares during the last quarter. Unison Advisors LLC purchased a new position in Methode Electronics during the 4th quarter worth $241,000. PNC Financial Services Group Inc. grew its stake in Methode Electronics by 42.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,354 shares of the electronics maker’s stock valued at $242,000 after purchasing an additional 3,108 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Methode Electronics in the 4th quarter valued at about $253,000. Finally, Quantbot Technologies LP acquired a new position in shares of Methode Electronics in the 3rd quarter valued at about $263,000. Hedge funds and other institutional investors own 96.97% of the company’s stock.

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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