Methode Electronics (MEI) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS
Methode Electronics (NYSE:MEI) released its earnings results on Thursday. The electronics maker reported $0.75 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.08, MarketWatch Earnings reports. Methode Electronics had a net margin of 5.27% and a return on equity of 19.33%. The company had revenue of $264.00 million for the quarter, compared to analyst estimates of $269.57 million. During the same quarter last year, the firm earned $0.64 EPS. The firm’s quarterly revenue was up 14.8% compared to the same quarter last year. Methode Electronics updated its FY 2019 guidance to $2.02-2.33 EPS and its FY19 guidance to $2.02-2.33 EPS.
Shares of NYSE MEI opened at $23.47 on Wednesday. Methode Electronics has a 1 year low of $22.75 and a 1 year high of $45.45. The stock has a market cap of $888.03 million, a P/E ratio of 7.82 and a beta of 1.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.56 and a quick ratio of 1.94.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine raised shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 5th. Craig Hallum set a $25.00 price target on shares of Methode Electronics and gave the stock a “hold” rating in a report on Friday, December 7th. They noted that the move was a valuation call. TheStreet lowered shares of Methode Electronics from a “b-” rating to a “c+” rating in a report on Tuesday, October 2nd. Finally, Robert W. Baird lowered shares of Methode Electronics from an “outperform” rating to a “neutral” rating in a report on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.
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About Methode Electronics
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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