Brokerages expect Methode Electronics Inc. (NYSE:MEI) to announce earnings of $0.66 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Methode Electronics’ earnings, with the lowest EPS estimate coming in at $0.62 and the highest estimate coming in at $0.72. Methode Electronics reported earnings of $0.63 per share in the same quarter last year, which indicates a positive year over year growth rate of 4.8%. The business is scheduled to issue its next earnings results on Thursday, March 1st.
According to Zacks, analysts expect that Methode Electronics will report full-year earnings of $2.58 per share for the current financial year, with EPS estimates ranging from $2.53 to $2.65. For the next year, analysts forecast that the company will post earnings of $3.00 per share, with EPS estimates ranging from $2.87 to $3.13. Zacks’ EPS averages are an average based on a survey of analysts that cover Methode Electronics.
Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.64 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.64. The firm had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. Methode Electronics had a net margin of 10.81% and a return on equity of 17.07%. The company’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.66 earnings per share.
In other Methode Electronics news, Director Isabelle C. Goossen sold 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $40.50, for a total value of $101,250.00. Following the completion of the sale, the director now owns 40,950 shares of the company’s stock, valued at $1,658,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Joseph Elias Khoury sold 21,400 shares of the company’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $40.30, for a total transaction of $862,420.00. Following the completion of the sale, the vice president now directly owns 267,200 shares of the company’s stock, valued at approximately $10,768,160. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. acquired a new position in shares of Methode Electronics in the third quarter valued at approximately $287,000. Vanguard Group Inc. boosted its holdings in shares of Methode Electronics by 0.7% in the second quarter. Vanguard Group Inc. now owns 3,194,454 shares of the electronics maker’s stock valued at $131,612,000 after buying an additional 22,852 shares during the period. Royce & Associates LP boosted its holdings in shares of Methode Electronics by 1.4% in the third quarter. Royce & Associates LP now owns 1,230,099 shares of the electronics maker’s stock valued at $52,095,000 after buying an additional 17,443 shares during the period. Northern Trust Corp boosted its holdings in Methode Electronics by 11.8% during the second quarter. Northern Trust Corp now owns 534,065 shares of the electronics maker’s stock worth $22,004,000 after purchasing an additional 56,575 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in Methode Electronics by 38.4% during the second quarter. TIAA CREF Investment Management LLC now owns 257,518 shares of the electronics maker’s stock worth $10,610,000 after purchasing an additional 71,388 shares during the last quarter. Institutional investors own 86.60% of the company’s stock.
Shares of Methode Electronics (MEI) traded down $0.40 during midday trading on Tuesday, hitting $40.80. 100,473 shares of the company’s stock were exchanged, compared to its average volume of 209,683. Methode Electronics has a one year low of $36.05 and a one year high of $48.44. The company has a market capitalization of $1,559.86 and a P/E ratio of 16.76. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.22 and a current ratio of 3.74.
The firm also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Methode Electronics’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, January 11th. Methode Electronics’s payout ratio is 18.03%.
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Methode Electronics Company Profile
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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