Methode Electronics Inc. (MEI) Issues FY15 Earnings Guidance
Methode Electronics Inc. (NYSE:MEI) updated its FY15 earnings guidance on Thursday. The company provided EPS guidance of $2.10-2.20 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.96, Analyst Ratings Net reports. The company issued revenue guidance of $870-885 million, compared to the consensus revenue estimate of $851.39 million.
A number of research firms have recently commented on MEI. Analysts at Zacks upgraded shares of Methode Electronics from an underperform rating to a neutral rating in a research note on Wednesday, August 27th. They now have a $34.80 price target on the stock. On a related note, analysts at Off Wall Street reiterated a sell rating on shares of Methode Electronics in a research note on Monday, August 4th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $40.45.
Shares of Methode Electronics Inc. (NYSE:MEI) traded up 15.29% during mid-day trading on Thursday, hitting $39.50. The stock had a trading volume of 1,017,691 shares. Methode Electronics Inc. has a one year low of $23.05 and a one year high of $38.57. The stock has a 50-day moving average of $32.98 and a 200-day moving average of $32.06. The company has a market cap of $1.498 billion and a price-to-earnings ratio of 13.65.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, September 4th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.40 by $0.15. The company had revenue of $218.10 million for the quarter, compared to the consensus estimate of $193.69 million. During the same quarter last year, the company posted $0.36 earnings per share. Methode Electronics’s revenue was up 30.4% compared to the same quarter last year. On average, analysts predict that Methode Electronics Inc. will post $1.97 earnings per share for the current fiscal year.
Methode Electronics, Inc is a manufacturer of component and subsystem devices with manufacturing, designs and testing facilities in China, Egypt, Germany, India, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States.
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