Methode Electronics (NYSE:MEI) Announces Earnings Results, Misses Expectations By $0.11 EPS

Methode Electronics (NYSE:MEIGet Free Report) released its quarterly earnings results on Thursday. The electronics maker reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11), FiscalAI reports. The firm had revenue of $233.70 million for the quarter, compared to analyst estimates of $219.44 million. Methode Electronics had a negative return on equity of 8.01% and a negative net margin of 6.58%.

Methode Electronics Stock Performance

NYSE MEI opened at $6.49 on Friday. The firm’s fifty day moving average price is $7.92 and its two-hundred day moving average price is $7.51. Methode Electronics has a 1 year low of $5.08 and a 1 year high of $10.77. The firm has a market capitalization of $229.81 million, a P/E ratio of -3.57 and a beta of 1.06. The company has a current ratio of 2.55, a quick ratio of 1.68 and a debt-to-equity ratio of 0.49.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 16th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date was Friday, January 16th. Methode Electronics’s payout ratio is presently -11.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MEI. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, January 22nd. Zacks Research raised shares of Methode Electronics to a “hold” rating in a research report on Tuesday, December 9th. Finally, Robert W. Baird set a $8.50 price objective on Methode Electronics in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus target price of $8.50.

View Our Latest Analysis on MEI

Key Stories Impacting Methode Electronics

Here are the key news stories impacting Methode Electronics this week:

Institutional Investors Weigh In On Methode Electronics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in Methode Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock worth $812,000 after purchasing an additional 9,787 shares during the period. Strs Ohio acquired a new stake in shares of Methode Electronics in the first quarter valued at approximately $133,000. JPMorgan Chase & Co. lifted its position in shares of Methode Electronics by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 191,757 shares of the electronics maker’s stock valued at $1,824,000 after buying an additional 17,418 shares during the last quarter. Franklin Resources Inc. bought a new position in shares of Methode Electronics during the 2nd quarter worth approximately $234,000. Finally, XTX Topco Ltd bought a new stake in Methode Electronics in the 2nd quarter valued at $107,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Company Profile

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Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.

Further Reading

Earnings History for Methode Electronics (NYSE:MEI)

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