Methode Electronics (MEI) Issues Quarterly Earnings Results
Methode Electronics (NYSE:MEI) issued its quarterly earnings data on Thursday. The electronics maker reported $0.64 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.64, Bloomberg Earnings reports. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. The company had revenue of $230.10 million for the quarter, compared to analysts’ expectations of $218.03 million. During the same period in the previous year, the firm posted $0.66 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Methode Electronics updated its FY18 guidance to $2.43-2.63 EPS.
Methode Electronics (NYSE:MEI) opened at $42.20 on Friday. Methode Electronics has a 52 week low of $36.05 and a 52 week high of $48.44. The stock has a market capitalization of $1,523.93, a P/E ratio of 16.17, a P/E/G ratio of 1.07 and a beta of 0.76. The company has a quick ratio of 3.81, a current ratio of 3.74 and a debt-to-equity ratio of 0.17.
MEI has been the topic of several analyst reports. BidaskClub cut Methode Electronics from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 12th. Zacks Investment Research cut Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 23rd. ValuEngine cut Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a research note on Thursday, August 31st. Finally, Robert W. Baird reaffirmed a “buy” rating and set a $47.00 target price on shares of Methode Electronics in a research note on Sunday, September 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Methode Electronics presently has an average rating of “Buy” and an average target price of $49.50.
ILLEGAL ACTIVITY NOTICE: “Methode Electronics (MEI) Issues Quarterly Earnings Results” was first posted by Watch List News and is the sole property of of Watch List News. If you are reading this article on another publication, it was illegally copied and reposted in violation of US & international trademark and copyright legislation. The legal version of this article can be viewed at https://www.watchlistnews.com/methode-electronics-mei-issues-quarterly-earnings-results/1753596.html.
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.
Receive News & Ratings for Methode Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.