Methode Electronics Inc. (MEI) Expected to Announce Quarterly Sales of $220.48 Million

Wall Street analysts expect Methode Electronics Inc. (NYSE:MEI) to post $220.48 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Methode Electronics’ earnings. The highest sales estimate is $224.94 million and the lowest is $214.50 million. Methode Electronics posted sales of $195.60 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.7%. The business is expected to report its next quarterly earnings results on Thursday, March 1st.

According to Zacks, analysts expect that Methode Electronics will report full year sales of $220.48 million for the current financial year, with estimates ranging from $888.90 million to $903.82 million. For the next year, analysts anticipate that the company will post sales of $972.71 million per share, with estimates ranging from $964.80 million to $986.74 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for Methode Electronics.

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

Several brokerages have commented on MEI. Zacks Investment Research lowered Methode Electronics from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. B. Riley reissued a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a report on Tuesday, December 5th. Robert W. Baird reissued a “buy” rating and issued a $46.00 price objective on shares of Methode Electronics in a report on Tuesday, October 17th. Finally, ValuEngine raised Methode Electronics from a “hold” rating to a “buy” rating in a report on Saturday, September 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $49.50.

In other news, Director Isabelle C. Goossen sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total value of $101,250.00. Following the transaction, the director now owns 40,950 shares in the company, valued at $1,658,475. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Joseph Elias Khoury sold 21,400 shares of the firm’s stock in a transaction that occurred on Friday, December 21st. The shares were sold at an average price of $40.30, for a total value of $862,420.00. Following the completion of the transaction, the vice president now owns 267,200 shares in the company, valued at approximately $10,768,160. The disclosure for this sale can be found here. 4.40% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in MEI. Schwab Charles Investment Management Inc. lifted its position in Methode Electronics by 10.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 235,426 shares of the electronics maker’s stock worth $9,700,000 after buying an additional 23,037 shares in the last quarter. SG Americas Securities LLC lifted its position in Methode Electronics by 101.2% during the second quarter. SG Americas Securities LLC now owns 5,327 shares of the electronics maker’s stock worth $219,000 after buying an additional 2,679 shares in the last quarter. Legal & General Group Plc lifted its position in Methode Electronics by 8.3% during the second quarter. Legal & General Group Plc now owns 71,977 shares of the electronics maker’s stock worth $2,964,000 after buying an additional 5,523 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Methode Electronics by 0.4% during 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 buying an additional 117 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in Methode Electronics by 17.7% during the second quarter. Victory Capital Management Inc. now owns 3,565 shares of the electronics maker’s stock worth $147,000 after buying an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 86.66% of the company’s stock.

Methode Electronics (NYSE:MEI) traded up $0.60 during trading on Monday, reaching $41.90. The company had a trading volume of 193,500 shares, compared to its average volume of 188,433. The firm has a market capitalization of $1,600.00, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.08 and a beta of 0.78. Methode Electronics has a 12-month low of $36.05 and a 12-month 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.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be issued a $0.11 dividend. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, January 11th. Methode Electronics’s dividend payout ratio (DPR) is presently 18.03%.

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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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