Methode Electronics, Inc. (NYSE:MEI) issued its quarterly earnings results on Thursday. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.12, Morningstar.com reports. The business had revenue of $201.20 million during the quarter, compared to the consensus estimate of $189.40 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Methode Electronics updated its FY18 guidance to $2.43-2.63 EPS.

Shares of Methode Electronics (MEI) opened at 39.90 on Friday. The company’s 50 day moving average price is $39.39 and its 200-day moving average price is $41.52. Methode Electronics has a 12-month low of $29.85 and a 12-month high of $46.40. The firm has a market cap of $1.47 billion, a P/E ratio of 15.80 and a beta of 0.76.

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MEI has been the subject of several recent analyst reports. BidaskClub downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. FBR & Co reissued an “outperform” rating and issued a $49.00 price target on shares of Methode Electronics in a report on Tuesday, July 18th. Zacks Investment Research downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. B. Riley reissued a “buy” rating and issued a $49.00 price target on shares of Methode Electronics in a report on Friday, June 23rd. Finally, ValuEngine downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $46.00.

Several hedge funds have recently made changes to their positions in the stock. Strs Ohio boosted its stake in shares of Methode Electronics by 83.3% in the first quarter. Strs Ohio now owns 23,100 shares of the electronics maker’s stock worth $1,053,000 after buying an additional 10,500 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Methode Electronics by 8.3% in the first quarter. Envestnet Asset Management Inc. now owns 10,520 shares of the electronics maker’s stock worth $478,000 after buying an additional 803 shares during the period. Vanguard Group Inc. boosted its stake in shares of Methode Electronics by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock worth $144,624,000 after buying an additional 131,039 shares during the period. Geode Capital Management LLC boosted its stake in shares of Methode Electronics by 3.5% in the first quarter. Geode Capital Management LLC now owns 457,354 shares of the electronics maker’s stock worth $20,855,000 after buying an additional 15,513 shares during the period. Finally, Virginia Retirement Systems ET AL boosted its stake in shares of Methode Electronics by 224.3% in the first quarter. Virginia Retirement Systems ET AL now owns 48,000 shares of the electronics maker’s stock worth $2,189,000 after buying an additional 33,200 shares during the period. 90.22% of the stock is owned by hedge funds and other institutional investors.

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.

Earnings History for Methode Electronics (NYSE:MEI)

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