Equities research analysts predict that Methode Electronics Inc. (NYSE:MEI) will announce sales of $216.47 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Methode Electronics’ earnings. The lowest sales estimate is $213.72 million and the highest is $220.7 million. Methode Electronics reported sales of $212.8 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.7%. The firm is expected to report its next earnings results on Thursday, June 22nd.

On average, analysts expect that Methode Electronics will report full year sales of $216.47 million for the current fiscal year, with estimates ranging from $810.52 million to $817.5 million. For the next year, analysts anticipate that the company will report sales of $837.04 million per share, with estimates ranging from $816.68 million to $880.9 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Methode Electronics.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, March 2nd. The electronics maker reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.10. Methode Electronics had a return on equity of 18.22% and a net margin of 10.76%. The company had revenue of $195.60 million for the quarter, compared to analyst estimates of $195.23 million. During the same quarter in the previous year, the company posted $0.45 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year.

A number of research analysts recently weighed in on MEI shares. Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a report on Tuesday, May 9th. B. Riley reiterated a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a report on Saturday, March 11th. Finally, FBR & Co reiterated an “outperform” rating and issued a $55.00 target price (up previously from $50.00) on shares of Methode Electronics in a report on Friday, March 3rd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.00.

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Methode Electronics (NYSE:MEI) traded up 0.13% during trading on Friday, reaching $38.60. The company had a trading volume of 172,369 shares. Methode Electronics has a 12 month low of $27.88 and a 12 month high of $46.40. The firm’s 50 day moving average is $42.58 and its 200-day moving average is $41.26. The company has a market capitalization of $1.42 billion, a P/E ratio of 15.68 and a beta of 0.94.

The company also recently announced a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 14th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Tuesday, April 11th. Methode Electronics’s payout ratio is currently 15.79%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of Methode Electronics by 117,664.2% in the first quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after buying an additional 4,408,878 shares during the last quarter. Norges Bank bought a new position in shares of Methode Electronics during the fourth quarter worth approximately $19,518,000. Opus Capital Group LLC bought a new position in shares of Methode Electronics during the first quarter worth approximately $7,306,000. Clark Capital Management Group Inc. bought a new position in shares of Methode Electronics during the first quarter worth approximately $6,901,000. Finally, Vanguard Group Inc. boosted its position 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 in the last quarter. Hedge funds and other institutional investors own 92.09% of the company’s stock.

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.

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