Analysts expect Methode Electronics (NYSE:MEI) to announce $242.88 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Methode Electronics’ earnings. The lowest sales estimate is $236.00 million and the highest is $248.65 million. Methode Electronics posted sales of $219.70 million in the same quarter last year, which would indicate a positive year over year growth rate of 10.6%. The firm is scheduled to issue its next quarterly earnings results on Thursday, June 28th.
On average, analysts expect that Methode Electronics will report full-year sales of $900.18 million for the current financial year, with estimates ranging from $889.30 million to $907.95 million. For the next fiscal year, analysts anticipate that the business will report sales of $978.83 million per share, with estimates ranging from $964.80 million to $993.58 million. Zacks’ sales averages are an average based on a survey of research firms that cover Methode Electronics.
Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.21. The firm had revenue of $228.00 million during the quarter, compared to analysts’ expectations of $219.90 million. Methode Electronics had a return on equity of 17.84% and a net margin of 4.95%. The business’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS.
Shares of NYSE MEI opened at $40.30 on Friday. The stock has a market capitalization of $1,488.74, a P/E ratio of 15.80, a PEG ratio of 0.96 and a beta of 0.88. The company has a quick ratio of 3.47, a current ratio of 4.03 and a debt-to-equity ratio of 0.19. Methode Electronics has a 52-week low of $36.05 and a 52-week high of $48.44.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 13th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, April 12th. Methode Electronics’s dividend payout ratio is presently 17.25%.
A number of institutional investors and hedge funds have recently bought and sold shares of MEI. Westwood Holdings Group Inc. raised its stake in Methode Electronics by 227.3% during the 4th quarter. Westwood Holdings Group Inc. now owns 1,364,275 shares of the electronics maker’s stock valued at $54,707,000 after acquiring an additional 947,502 shares during the last quarter. Ariel Investments LLC purchased a new stake in Methode Electronics during the 4th quarter valued at approximately $14,580,000. Heartland Advisors Inc. raised its stake in Methode Electronics by 205.2% during the 4th quarter. Heartland Advisors Inc. now owns 352,735 shares of the electronics maker’s stock valued at $14,145,000 after acquiring an additional 237,170 shares during the last quarter. BlackRock Inc. raised its stake in Methode Electronics by 2.9% during the 4th quarter. BlackRock Inc. now owns 4,570,332 shares of the electronics maker’s stock valued at $183,270,000 after acquiring an additional 129,746 shares during the last quarter. Finally, Martingale Asset Management L P raised its stake in Methode Electronics by 593.7% during the 4th quarter. Martingale Asset Management L P now owns 88,234 shares of the electronics maker’s stock valued at $3,539,000 after acquiring an additional 75,514 shares during the last quarter. 95.88% of the stock is owned by hedge funds and other institutional investors.
About Methode Electronics
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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