Wall Street brokerages expect that Methode Electronics, Inc. (NYSE:MEI) will report $220.81 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Methode Electronics’ earnings, with the highest sales estimate coming in at $224.94 million and the lowest estimate coming in at $214.50 million. Methode Electronics reported sales of $195.60 million in the same quarter last year, which indicates a positive year-over-year growth rate of 12.9%. The firm is expected to announce its next quarterly earnings report on Thursday, March 1st.

On average, analysts expect that Methode Electronics will report full-year sales of $220.81 million for the current year, with estimates ranging from $888.90 million to $903.82 million. For the next fiscal year, analysts anticipate that the company will post sales of $974.05 million per share, with estimates ranging from $966.60 million to $986.74 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Methode Electronics.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, December 7th. The electronics maker reported $0.64 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.64. The company had revenue of $230.10 million for the quarter, compared to analyst estimates of $218.03 million. Methode Electronics had a net margin of 10.81% and a return on equity of 17.07%. Methode Electronics’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $0.66 EPS.

A number of equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. B. Riley restated a “buy” rating and set a $49.00 target price on shares of Methode Electronics in a report on Tuesday, December 5th. Robert W. Baird reaffirmed a “buy” rating and set a $46.00 price target on shares of Methode Electronics in a research note on Tuesday, October 17th. ValuEngine raised shares of Methode Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, September 30th. Finally, FBR & Co reaffirmed a “buy” rating on shares of Methode Electronics in a research note on Thursday, August 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Methode Electronics presently has a consensus rating of “Buy” and a consensus price target of $49.50.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Alps Advisors Inc. grew its position in shares of Methode Electronics by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock valued at $447,000 after buying an additional 28 shares during the last quarter. Pinebridge Investments L.P. grew its position in shares of Methode Electronics by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,847 shares of the electronics maker’s stock valued at $199,000 after buying an additional 49 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of Methode Electronics by 0.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 32,641 shares of the electronics maker’s stock valued at $1,345,000 after buying an additional 117 shares during the last quarter. Amalgamated Bank grew its position in shares of Methode Electronics by 2.8% during the 2nd quarter. Amalgamated Bank now owns 4,975 shares of the electronics maker’s stock valued at $205,000 after buying an additional 134 shares during the last quarter. Finally, Texas Permanent School Fund grew its position in shares of Methode Electronics by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 26,858 shares of the electronics maker’s stock valued at $1,107,000 after buying an additional 224 shares during the last quarter. 89.95% of the stock is owned by institutional investors.

Shares of Methode Electronics (NYSE:MEI) traded down $1.35 on Tuesday, hitting $40.85. 547,300 shares of the company’s stock were exchanged, compared to its average volume of 221,801. The firm has a market cap of $1,553.38, a price-to-earnings ratio of 16.48, a PEG ratio of 1.08 and a beta of 0.76. Methode Electronics has a 52 week low of $36.05 and a 52 week high of $48.44. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.22 and a current ratio of 3.74.

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

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