Methode Electronics (NYSE:MEI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $0.77-0.87 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.58. The company issued revenue guidance of $270-285 million, compared to the consensus revenue estimate of $240.00 million.Methode Electronics also updated its Q2 2021
Pre-Market guidance to 0.71-0.81 EPS.
NYSE MEI opened at $27.36 on Friday. The stock has a fifty day moving average of $28.96 and a 200-day moving average of $29.06. The stock has a market capitalization of $1.03 billion, a P/E ratio of 8.97 and a beta of 1.24. Methode Electronics has a 52 week low of $21.76 and a 52 week high of $41.70. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.96 and a current ratio of 3.74.
Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, September 3rd. The electronics maker reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.28. The firm had revenue of $190.90 million for the quarter, compared to analyst estimates of $174.30 million. Methode Electronics had a return on equity of 14.14% and a net margin of 12.26%. The company’s revenue for the quarter was down 29.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.75 earnings per share.
A number of brokerages have weighed in on MEI. ValuEngine raised Methode Electronics from a strong sell rating to a sell rating in a research report on Tuesday, September 1st. TheStreet cut Methode Electronics from a b- rating to a c+ rating in a research note on Monday, September 14th. Finally, Zacks Investment Research upgraded Methode Electronics from a strong sell rating to a hold rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Methode Electronics currently has a consensus rating of Hold and an average price target of $33.00.
Methode Electronics Company Profile
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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