Methode Electronics (MEI) Updates FY19 Earnings Guidance

Methode Electronics (NYSE:MEI) updated its FY19 earnings guidance on Thursday. The company provided earnings per share guidance of $2.02-2.33 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.67. The company issued revenue guidance of $1.0-1.04 billion, compared to the consensus revenue estimate of $1.06 billion.Methode Electronics also updated its FY 2019 guidance to $2.02-2.33 EPS.

Several equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Methode Electronics from a buy rating to a hold rating in a research report on Tuesday. ValuEngine upgraded Methode Electronics from a strong sell rating to a sell rating in a research report on Wednesday, December 5th. Craig Hallum set a $25.00 price objective on Methode Electronics and gave the stock a hold rating in a research report on Friday, December 7th. They noted that the move was a valuation call. TheStreet downgraded Methode Electronics from a b- rating to a c+ rating in a research report on Tuesday, October 2nd. Finally, Robert W. Baird downgraded Methode Electronics from an outperform rating to a neutral rating in a research report on Monday, October 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $37.00.

Shares of NYSE MEI opened at $23.47 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.56 and a quick ratio of 1.94. The company has a market cap of $888.03 million, a PE ratio of 7.82 and a beta of 1.21. Methode Electronics has a 12-month low of $22.75 and a 12-month high of $45.45.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, December 6th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. The business had revenue of $264.00 million during the quarter, compared to the consensus estimate of $269.57 million. Methode Electronics had a return on equity of 19.33% and a net margin of 5.27%. The business’s revenue was up 14.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. On average, analysts predict that Methode Electronics will post 2.61 earnings per share for the current year.

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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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