Methode Electronics (NYSE:MEI) Posts Earnings Results, Misses Expectations By $0.03 EPS

Methode Electronics (NYSE:MEI) announced its earnings results on Thursday. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the business earned $0.06 EPS.

Methode Electronics Trading Down 5.8 %

MEI opened at $9.74 on Friday. The company has a current ratio of 2.76, a quick ratio of 1.95 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $344.70 million, a PE ratio of -2.79 and a beta of 0.72. Methode Electronics has a 1-year low of $8.54 and a 1-year high of $27.11. The firm has a 50-day moving average price of $11.19 and a two-hundred day moving average price of $12.25.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Friday, July 12th were given a $0.14 dividend. 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 presently -16.05%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MEI shares. Robert W. Baird dropped their target price 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. StockNews.com upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating 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.