Brokerages forecast that Methode Electronics Inc. (NYSE:MEI) will post $0.58 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Methode Electronics’ earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.61. Methode Electronics reported earnings of $0.60 per share in the same quarter last year, which would indicate a negative year over year growth rate of 3.3%. The company is expected to issue its next earnings results on Thursday, August 30th.

According to Zacks, analysts expect that Methode Electronics will report full-year earnings of $2.88 per share for the current year, with EPS estimates ranging from $2.87 to $2.89. For the next financial year, analysts expect that the firm will post earnings of $3.65 per share, with EPS estimates ranging from $3.59 to $3.70. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Methode Electronics.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, June 21st. The electronics maker reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.24. The firm had revenue of $249.00 million for the quarter, compared to analyst estimates of $247.16 million. Methode Electronics had a net margin of 6.30% and a return on equity of 19.04%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.62 EPS.

MEI has been the topic of a number of research reports. ValuEngine lowered shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Wednesday, June 20th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $49.00.

Several institutional investors and hedge funds have recently made changes to their positions in MEI. BlackRock Inc. boosted its stake in Methode Electronics by 9.1% during the second quarter. BlackRock Inc. now owns 5,068,797 shares of the electronics maker’s stock worth $204,273,000 after acquiring an additional 423,578 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Methode Electronics by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,055,779 shares of the electronics maker’s stock worth $80,381,000 after acquiring an additional 16,560 shares in the last quarter. Westwood Holdings Group Inc. boosted its stake in Methode Electronics by 5.3% during the first quarter. Westwood Holdings Group Inc. now owns 1,436,624 shares of the electronics maker’s stock worth $56,172,000 after acquiring an additional 72,349 shares in the last quarter. Royce & Associates LP boosted its stake in Methode Electronics by 6.6% during the second quarter. Royce & Associates LP now owns 1,270,249 shares of the electronics maker’s stock worth $51,191,000 after acquiring an additional 79,010 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its stake in Methode Electronics by 0.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,237,302 shares of the electronics maker’s stock worth $48,378,000 after acquiring an additional 4,506 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Shares of MEI opened at $39.85 on Tuesday. The stock has a market cap of $1.47 billion, a PE ratio of 12.88 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 2.97 and a current ratio of 3.50. Methode Electronics has a 1-year low of $36.75 and a 1-year high of $48.44.

The business also recently announced a quarterly dividend, which was paid on Friday, July 27th. Stockholders of record on Friday, July 13th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date was Thursday, July 12th. Methode Electronics’s payout ratio is 14.67%.

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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Earnings History and Estimates for Methode Electronics (NYSE:MEI)

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