Methode Electronics (NYSE:MEI) Releases Quarterly Earnings Results, Beats Estimates By $999.20 EPS

Methode Electronics (NYSE:MEI) issued its quarterly earnings results on Wednesday. The electronics maker reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $999.20, Zacks reports. Methode Electronics had a negative return on equity of 8.04% and a negative net margin of 6.58%.

Methode Electronics Stock Performance

Shares of MEI traded down $0.24 during mid-day trading on Wednesday, hitting $13.15. The stock had a trading volume of 612,492 shares, compared to its average volume of 625,973. Methode Electronics has a fifty-two week low of $4.88 and a fifty-two week high of $15.55. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.50. The company has a market cap of $466.08 million, a PE ratio of -7.23 and a beta of 1.59. The company’s fifty day simple moving average is $10.35 and its two-hundred day simple moving average is $8.27.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $0.05 dividend. The ex-dividend date is Friday, July 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. Methode Electronics’s dividend payout ratio (DPR) is presently -10.99%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $8.50.

Hedge Funds Weigh In On Methode Electronics

Several large investors have recently added to or reduced their stakes in MEI. EverSource Wealth Advisors LLC lifted its position in Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 2,815 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in Methode Electronics by 21.0% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker’s stock worth $145,000 after acquiring an additional 3,778 shares in the last quarter. Barclays PLC lifted its holdings in Methode Electronics by 4.5% during the 4th quarter. Barclays PLC now owns 90,325 shares of the electronics maker’s stock valued at $600,000 after purchasing an additional 3,906 shares during the last quarter. Sei Investments Co. boosted its position in Methode Electronics by 9.3% in the second quarter. Sei Investments Co. now owns 54,040 shares of the electronics maker’s stock valued at $514,000 after buying an additional 4,600 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Methode Electronics by 92.7% during the 3rd quarter. Quantbot Technologies LP now owns 17,331 shares of the electronics maker’s stock worth $131,000 after acquiring an additional 8,336 shares during the last quarter. 95.49% of the stock is currently owned by institutional investors.

About Methode Electronics

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.