Methode Electronics (MEI) Releases Quarterly Earnings Results, Hits Expectations
Methode Electronics (NYSE:MEI) announced its earnings results on Thursday. The electronics maker reported $0.64 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64, Bloomberg Earnings reports. The company had revenue of $230.10 million for the quarter, compared to analysts’ expectations of $218.03 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. Methode Electronics’s quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.66 earnings per share. Methode Electronics updated its FY18 guidance to $2.43-2.63 EPS.
Methode Electronics (MEI) opened at $41.40 on Friday. The stock has a market capitalization of $1,674.85, a P/E ratio of 17.64, a P/E/G ratio of 1.17 and a beta of 0.76. The company has a current ratio of 4.32, a quick ratio of 3.81 and a debt-to-equity ratio of 0.08. Methode Electronics has a 1 year low of $36.05 and a 1 year high of $48.44.
Several brokerages recently issued reports on MEI. FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a research report on Thursday, August 31st. Zacks Investment Research raised Methode Electronics from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research report on Tuesday, November 7th. Robert W. Baird reaffirmed a “buy” rating and set a $46.00 target price on shares of Methode Electronics in a research report on Tuesday, October 17th. BidaskClub cut Methode Electronics from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 12th. Finally, ValuEngine cut Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Methode Electronics currently has an average rating of “Buy” and a consensus target price of $49.50.
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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