Methode Electronics Inc. (MEI) Expected to Announce Quarterly Sales of $219.90 Million

Brokerages forecast that Methode Electronics Inc. (NYSE:MEI) will report $219.90 million in sales for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Methode Electronics’ earnings, with the highest sales estimate coming in at $223.21 million and the lowest estimate coming in at $214.50 million. Methode Electronics reported sales of $195.60 million during the same quarter last year, which indicates a positive year-over-year growth rate of 12.4%. The firm is scheduled to issue its next quarterly earnings report on Thursday, March 1st.

According to Zacks, analysts expect that Methode Electronics will report full year sales of $219.90 million for the current fiscal year, with estimates ranging from $888.90 million to $902.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $975.62 million per share, with estimates ranging from $964.80 million to $995.45 million. Zacks Investment Research’s sales averages are a mean average based on a survey of 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 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.64. 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 17.07% and a net margin of 10.81%. 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 EPS.

MEI has been the subject of several research analyst reports. Zacks Investment Research downgraded Methode Electronics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. B. Riley reiterated a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a research report on Tuesday, December 5th. Finally, ValuEngine downgraded Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.50.

Shares of Methode Electronics (NYSE MEI) traded down $0.10 during mid-day trading on Friday, reaching $40.25. The company had a trading volume of 141,746 shares, compared to its average volume of 231,114. The company has a current ratio of 3.74, a quick ratio of 3.22 and a debt-to-equity ratio of 0.17. Methode Electronics has a twelve month low of $36.05 and a twelve month high of $48.44. The firm has a market cap of $1,540.00, a price-to-earnings ratio of 16.50, a price-to-earnings-growth ratio of 1.05 and a beta of 0.82.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were given a $0.11 dividend. This is an increase from Methode Electronics’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 11th. This represents a $0.44 annualized dividend and a yield of 1.09%. Methode Electronics’s payout ratio is presently 18.03%.

In other Methode Electronics news, Director Isabelle C. Goossen sold 2,500 shares of Methode Electronics stock in a transaction 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 completion of the transaction, the director now owns 40,950 shares in the company, valued at approximately $1,658,475. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph Elias Khoury sold 21,400 shares of Methode Electronics stock in a transaction on Thursday, 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 of the company’s stock, valued at approximately $10,768,160. The disclosure for this sale can be found here. Insiders own 4.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. California Public Employees Retirement System raised its position in shares of Methode Electronics by 1.0% during the second quarter. California Public Employees Retirement System now owns 78,300 shares of the electronics maker’s stock worth $3,226,000 after acquiring an additional 800 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Methode Electronics by 30.3% during the third quarter. Victory Capital Management Inc. now owns 4,646 shares of the electronics maker’s stock worth $197,000 after acquiring an additional 1,081 shares during the last quarter. Envestnet Asset Management Inc. raised its position in shares of Methode Electronics by 15.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 10,353 shares of the electronics maker’s stock worth $415,000 after acquiring an additional 1,362 shares during the last quarter. Voya Investment Management LLC raised its position in shares of Methode Electronics by 4.0% during the second quarter. Voya Investment Management LLC now owns 36,466 shares of the electronics maker’s stock worth $1,502,000 after acquiring an additional 1,391 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Methode Electronics by 5.7% during the third quarter. American International Group Inc. now owns 28,478 shares of the electronics maker’s stock worth $1,206,000 after acquiring an additional 1,538 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

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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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