Methode Electronics (NYSE:MEI) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Methode Electronics (NYSE:MEIGet Free Report) released its quarterly earnings results on Wednesday. The electronics maker reported ($0.30) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.10), Zacks reports. The company had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%.

Methode Electronics Price Performance

MEI opened at $13.15 on Thursday. The business has a fifty day moving average of $10.47 and a 200 day moving average of $8.31. Methode Electronics has a 52-week low of $4.88 and a 52-week high of $15.55. The company has a quick ratio of 1.55, a current ratio of 2.41 and a debt-to-equity ratio of 0.50. The stock has a market cap of $466.08 million, a P/E ratio of -7.23 and a beta of 1.59.

Methode Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, July 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Methode Electronics’s payout ratio is presently -10.99%.

Institutional Trading of Methode Electronics

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC increased its stake in Methode Electronics by 1,027.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after buying an additional 2,815 shares during the period. Mackenzie Financial Corp bought a new position in Methode Electronics in the 3rd quarter worth about $103,000. XTX Topco Ltd bought a new position in Methode Electronics in the 2nd quarter worth about $107,000. Quantbot Technologies LP increased its position in shares of Methode Electronics by 92.7% during the third quarter. Quantbot Technologies LP now owns 17,331 shares of the electronics maker’s stock worth $131,000 after acquiring an additional 8,336 shares during the period. Finally, Strs Ohio purchased a new position in shares of Methode Electronics during the first quarter worth approximately $133,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $8.50.

View Our Latest Research Report on MEI

About Methode Electronics

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Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.

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Earnings History for Methode Electronics (NYSE:MEI)

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