Methode Electronics (NYSE:MEI) Releases Quarterly Earnings Results

Methode Electronics (NYSE:MEI) announced its quarterly earnings data on Thursday. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03), Yahoo Finance reports. The firm had revenue of $258.50 million during the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative net margin of 11.06% and a negative return on equity of 1.78%. During the same period in the prior year, the firm posted $0.06 earnings per share.

Methode Electronics Price Performance

Shares of MEI traded down $0.60 on Friday, reaching $9.74. The stock had a trading volume of 364,574 shares, compared to its average volume of 568,554. The firm has a 50-day moving average of $11.19 and a 200 day moving average of $12.32. The firm has a market capitalization of $344.70 million, a PE ratio of -2.79 and a beta of 0.71. Methode Electronics has a twelve month low of $8.54 and a twelve month high of $27.11. The company has a quick ratio of 1.95, a current ratio of 2.76 and a debt-to-equity ratio of 0.43.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 12th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, July 12th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.75%. Methode Electronics’s payout ratio is -16.05%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MEI. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday. Robert W. Baird cut their price objective on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.