Methode Electronics (NYSE:MEI) Updates Q2 Earnings Guidance

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Methode Electronics (NYSE:MEI) issued an update on its second quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.77-0.87 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 $240.00 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. Methode Electronics has a 12-month low of $21.76 and a 12-month high of $41.70. The company has a quick ratio of 2.96, a current ratio of 3.74 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.03 billion, a P/E ratio of 8.97 and a beta of 1.24. The stock’s fifty day simple moving average is $28.96 and its 200-day simple moving average is $29.06.

Methode Electronics (NYSE:MEI) last released 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. The firm had revenue of $190.90 million for the quarter, compared to the consensus estimate 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 quarter last year, the business posted $0.75 EPS.

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

Several brokerages recently issued reports on MEI. TheStreet cut Methode Electronics from a b- rating to a c+ rating in a research note on Monday, September 14th. Zacks Investment Research upgraded shares of Methode Electronics from a strong sell rating to a hold rating in a report on Wednesday, June 24th. Finally, ValuEngine upgraded Methode Electronics from a strong sell rating to a sell rating in a report on Tuesday, September 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price 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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Earnings History and Estimates for Methode Electronics (NYSE:MEI)

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