Methode Electronics, Inc. (MEI) Releases FY18 Earnings Guidance
Methode Electronics, Inc. (NYSE:MEI) issued an update on its FY18 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.43-2.63 for the period, compared to the Thomson Reuters consensus estimate of $2.45. The company issued revenue guidance of $807-827 million, compared to the consensus revenue estimate of $819.92 million.
Shares of Methode Electronics, Inc. (MEI) opened at 39.55 on Thursday. The company’s 50 day moving average price is $39.49 and its 200-day moving average price is $41.60. The stock has a market capitalization of $1.45 billion, a PE ratio of 15.66 and a beta of 0.76. Methode Electronics, Inc. has a 52 week low of $29.85 and a 52 week high of $46.40.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, August 31st. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.14. Methode Electronics had a return on equity of 18.81% and a net margin of 11.38%. The firm had revenue of $201.20 million during the quarter, compared to the consensus estimate of $189.40 million. During the same period in the prior year, the firm earned $0.57 EPS. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts predict that Methode Electronics, Inc. will post $2.46 EPS for the current year.
Several brokerages recently issued reports on MEI. Zacks Investment Research downgraded Methode Electronics from a buy rating to a hold rating in a report on Tuesday, May 9th. B. Riley restated a buy rating and set a $49.00 target price on shares of Methode Electronics in a research note on Wednesday, June 28th. FBR & Co restated an outperform rating and set a $49.00 target price on shares of Methode Electronics in a research note on Tuesday, July 18th. BidaskClub downgraded Methode Electronics from a hold rating to a sell rating in a research note on Monday, July 31st. Finally, Robert W. Baird restated an outperform rating and set a $47.00 target price (down from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus price target of $46.00.
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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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