Methode Electronics (NYSE:MEI) Issues Quarterly Earnings Results

Methode Electronics (NYSE:MEI) released 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 for the quarter, compared to analyst estimates of $267.66 million. Methode Electronics had a negative return on equity of 1.78% and a negative net margin of 11.06%. During the same quarter in the previous year, the business posted $0.06 earnings per share.

Methode Electronics Stock Down 5.8 %

MEI stock traded down $0.60 during midday trading on Friday, hitting $9.74. The company’s stock had a trading volume of 364,574 shares, compared to its average volume of 568,554. Methode Electronics has a 52-week low of $8.54 and a 52-week high of $27.11. The firm has a market capitalization of $344.70 million, a P/E ratio of -2.79 and a beta of 0.71. The company has a quick ratio of 1.95, a current ratio of 2.76 and a debt-to-equity ratio of 0.43. The firm has a 50-day simple moving average of $11.19 and a 200-day simple moving average of $12.32.

Methode Electronics Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on MEI. StockNews.com raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday. Robert W. Baird dropped their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Friday.

About Methode Electronics

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.