Methode Electronics (MEI) Updates FY18 Earnings Guidance

Methode Electronics (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 $2.57. The company issued revenue guidance of $880-900 million, compared to the consensus revenue estimate of $902.53 million.

A number of research firms recently issued reports on MEI. Zacks Investment Research cut Methode Electronics from a buy rating to a hold rating in a research 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. Robert W. Baird restated a buy rating and set a $46.00 target price on shares of Methode Electronics in a report on Tuesday, October 17th. ValuEngine upgraded Methode Electronics from a hold rating to a buy rating in a report on Saturday, September 30th. Finally, FBR & Co restated a buy rating on shares of Methode Electronics in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $49.50.

Methode Electronics (MEI) opened at $45.50 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.32 and a quick ratio of 3.81. The company has a market capitalization of $1,674.85, a PE ratio of 17.64, a PEG ratio of 1.17 and a beta of 0.76. Methode Electronics has a 12 month low of $36.05 and a 12 month high of $48.44.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, December 6th. The electronics maker reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.01. The business 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 18.11% and a net margin of 11.16%. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.66 earnings per share. research analysts predict that Methode Electronics will post 2.59 EPS for the current fiscal year.

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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.

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

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