Methode Electronics (NYSE:MEI) updated its FY18 earnings guidance on Thursday. The company provided EPS guidance of $2.43-2.63 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.57. The company issued revenue guidance of $880-900 million, compared to the consensus revenue estimate of $902.53 million.
Several research firms have recently issued reports on MEI. B. Riley reaffirmed a buy rating on shares of Methode Electronics in a research report on Wednesday, November 1st. Zacks Investment Research lowered shares of Methode Electronics from a buy rating to a hold rating in a research note on Thursday, December 21st. Robert W. Baird reiterated a buy rating and set a $46.00 price target on shares of Methode Electronics in a research note on Tuesday, October 17th. Finally, ValuEngine upgraded shares of Methode Electronics from a hold rating to a buy rating in a research note on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $49.50.
Shares of Methode Electronics (MEI) traded down $0.35 during trading on Friday, hitting $40.10. 227,174 shares of the stock were exchanged, compared to its average volume of 268,620. Methode Electronics has a twelve month low of $36.05 and a twelve month high of $48.44. The company has a current ratio of 3.74, a quick ratio of 3.22 and a debt-to-equity ratio of 0.17. The firm has a market capitalization of $1,530.00, a price-to-earnings ratio of 16.43, a price-to-earnings-growth ratio of 1.04 and a beta of 0.76.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, January 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.10%. This is an increase from Methode Electronics’s previous quarterly dividend of $0.09. Methode Electronics’s payout ratio is currently 14.75%.
In other Methode Electronics news, Director Isabelle C. Goossen sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $40.50, for a total value of $101,250.00. Following the sale, the director now owns 40,950 shares of the company’s stock, valued at $1,658,475. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.40% of the stock is owned by corporate insiders.
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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