Methode Electronics (MEI) Issues FY19 Earnings Guidance

Methode Electronics (NYSE:MEI) issued an update on its FY19 earnings guidance on Thursday morning. The company provided EPS guidance of $2.02-2.33 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.67. The company issued revenue guidance of $1.0-1.04 billion, compared to the consensus revenue estimate of $1.06 billion.Methode Electronics also updated its FY 2019 guidance to $2.02-2.33 EPS.

Methode Electronics stock opened at $24.01 on Friday. Methode Electronics has a twelve month low of $23.40 and a twelve month high of $45.45. The company has a quick ratio of 3.18, a current ratio of 2.56 and a debt-to-equity ratio of 0.53. The company has a market cap of $925.02 million, a price-to-earnings ratio of 8.00 and a beta of 1.21.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, December 6th. The electronics maker reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Methode Electronics had a return on equity of 19.33% and a net margin of 5.27%. The company had revenue of $264.00 million during the quarter, compared to analysts’ expectations of $269.57 million. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue for the quarter was up 14.8% on a year-over-year basis. As a group, research analysts forecast that Methode Electronics will post 2.9 EPS for the current year.

MEI has been the subject of a number of recent research reports. Zacks Investment Research raised Methode Electronics from a hold rating to a buy rating and set a $35.00 price objective for the company in a research report on Wednesday. TheStreet cut Methode Electronics from a b- rating to a c+ rating in a research report on Tuesday, October 2nd. Craig Hallum set a $25.00 price objective on Methode Electronics and gave the stock a hold rating in a research report on Friday. They noted that the move was a valuation call. Robert W. Baird cut Methode Electronics from an outperform rating to a neutral rating in a research report on Monday, October 1st. Finally, ValuEngine raised Methode Electronics from a strong sell rating to a sell rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $37.00.

In other news, Director Isabelle C. Goossen sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $39.32, for a total value of $98,300.00. Following the completion of the sale, the director now directly owns 40,450 shares of the company’s stock, valued at approximately $1,590,494. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.40% of the stock is owned by company insiders.

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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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