Methode Electronics, Inc. (MEI) Updates FY18 Earnings Guidance
Methode Electronics, Inc. (NYSE:MEI) updated its FY18 earnings guidance on Thursday. The company provided earnings per share guidance of $2.43-2.63 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.45. The company issued revenue guidance of $807-827 million, compared to the consensus revenue estimate of $819.92 million.
Several equities analysts have commented on the stock. BidaskClub raised shares of Methode Electronics from a strong sell rating to a sell rating in a research report on Saturday, August 26th. Zacks Investment Research cut shares of Methode Electronics from a hold rating to a sell rating in a research report on Wednesday, August 23rd. B. Riley reissued a buy rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Friday, June 23rd. ValuEngine cut shares of Methode Electronics from a buy rating to a hold rating in a research report on Thursday, August 24th. Finally, FBR & Co reissued an outperform rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Tuesday, July 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $46.00.
Shares of Methode Electronics, Inc. (MEI) opened at 39.55 on Thursday. The stock has a market capitalization of $1.45 billion, a PE ratio of 15.66 and a beta of 0.76. The stock’s 50 day moving average is $39.49 and its 200 day moving average is $41.60. Methode Electronics, Inc. has a 52-week low of $29.85 and a 52-week high of $46.40.
Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, August 31st. The electronics maker reported $0.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.14. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. The business had revenue of $201.20 million for the quarter, compared to analyst estimates of $189.40 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Methode Electronics’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Methode Electronics, Inc. will post $2.46 earnings per share for the current fiscal year.
Methode Electronics Company Profile
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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