Methode Electronics (NYSE:MEI) Issues Q2 2021 Pre-Market Earnings Guidance

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Methode Electronics (NYSE:MEI) updated its second quarter 2021
Pre-Market earnings guidance on Thursday. The company provided EPS guidance of 0.71-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.58. The company issued revenue guidance of $270-285 million, compared to the consensus revenue estimate of $240 million.Methode Electronics also updated its Q2 guidance to $0.77-0.87 EPS.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Methode Electronics from a strong sell rating to a hold rating in a research report on Wednesday, June 24th. TheStreet lowered shares of Methode Electronics from a b- rating to a c+ rating in a research report on Monday, September 14th. Finally, ValuEngine raised shares of Methode Electronics from a strong sell rating to a sell rating in a research report on Tuesday, September 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of Hold and a consensus target price of $33.00.

Shares of Methode Electronics stock opened at $27.36 on Friday. The firm has a market capitalization of $1.03 billion, a PE ratio of 8.97 and a beta of 1.24. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.74 and a quick ratio of 2.96. The company’s fifty day moving average price is $28.96 and its two-hundred day moving average price is $29.06. Methode Electronics has a 52-week low of $21.76 and a 52-week high of $41.70.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, September 3rd. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.28. Methode Electronics had a net margin of 12.26% and a return on equity of 14.14%. The firm had revenue of $190.90 million for the quarter, compared to analyst estimates of $174.30 million. During the same quarter in the previous year, the firm posted $0.75 EPS. The business’s revenue for the quarter was down 29.3% on a year-over-year basis.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, October 15th. Methode Electronics’s payout ratio is 14.10%.

About Methode Electronics

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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

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