Equities analysts expect that Methode Electronics, Inc. (NYSE:MEI) will announce sales of $215.20 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Methode Electronics’ earnings, with estimates ranging from $211.90 million to $217.00 million. Methode Electronics reported sales of $209.30 million during the same quarter last year, which indicates a positive year-over-year growth rate of 2.8%. The business is expected to announce its next earnings results on Thursday, December 14th.

On average, analysts expect that Methode Electronics will report full year sales of $215.20 million for the current financial year, with estimates ranging from $826.10 million to $913.24 million. For the next year, analysts anticipate that the company will post sales of $950.27 million per share, with estimates ranging from $870.50 million to $1.01 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Methode Electronics.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, August 31st. The electronics maker reported $0.60 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.12. The firm had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $189.40 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS.

MEI has been the subject of a number of research analyst reports. Zacks Investment Research raised Methode Electronics from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, October 18th. Robert W. Baird reaffirmed a “buy” rating and issued a $46.00 price target on shares of Methode Electronics in a report on Tuesday, October 17th. ValuEngine raised Methode Electronics from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a report on Thursday, August 31st. Finally, BidaskClub raised Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $48.50.

Institutional investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. increased its position in Methode Electronics by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock worth $447,000 after purchasing an additional 28 shares during the period. Pinebridge Investments L.P. increased its position in Methode Electronics by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 4,847 shares of the electronics maker’s stock worth $199,000 after purchasing an additional 49 shares during the period. State Board of Administration of Florida Retirement System increased its position in Methode Electronics by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 32,641 shares of the electronics maker’s stock worth $1,345,000 after purchasing an additional 117 shares during the period. Amalgamated Bank increased its position in Methode Electronics by 2.8% in the second quarter. Amalgamated Bank now owns 4,975 shares of the electronics maker’s stock worth $205,000 after purchasing an additional 134 shares during the period. Finally, Texas Permanent School Fund increased its position in Methode Electronics by 0.8% in the second quarter. Texas Permanent School Fund now owns 26,858 shares of the electronics maker’s stock worth $1,107,000 after purchasing an additional 224 shares during the period. 89.61% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Analysts Expect Methode Electronics, Inc. (MEI) Will Post Quarterly Sales of $215.20 Million” was first posted by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark laws. The legal version of this news story can be read at https://www.americanbankingnews.com/2017/11/04/analysts-expect-methode-electronics-inc-mei-will-post-quarterly-sales-of-215-20-million.html.

Shares of Methode Electronics (MEI) opened at $46.60 on Friday. The company has a market cap of $1.72 billion, a P/E ratio of 18.16, a P/E/G ratio of 1.21 and a beta of 0.80. The company has a quick ratio of 3.81, a current ratio of 4.32 and a debt-to-equity ratio of 0.08.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 13th were issued a $0.09 dividend. The ex-dividend date was Thursday, October 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. Methode Electronics’s dividend payout ratio is 14.63%.

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.

Get a free copy of the Zacks research report on Methode Electronics (MEI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Methode Electronics (NYSE:MEI)

Receive News & Ratings for Methode Electronics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.