Methode Electronics (NYSE:MEI) Issues Earnings Results, Beats Estimates By $0.31 EPS

Methode Electronics (NYSE:MEI) issued its earnings results on Thursday. The electronics maker reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.31, Zacks reports. Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. During the same period in the previous year, the company earned $0.06 EPS.

Methode Electronics Trading Up 20.8 %

Shares of Methode Electronics stock opened at $14.02 on Friday. Methode Electronics has a fifty-two week low of $8.54 and a fifty-two week high of $25.15. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.50 and a current ratio of 2.35. The company has a market capitalization of $494.06 million, a P/E ratio of -4.23 and a beta of 0.81. The company has a fifty day moving average of $10.36 and a 200 day moving average of $10.78.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Friday, October 18th were given a dividend of $0.14 per share. The ex-dividend date was Friday, October 18th. This represents a $0.56 annualized dividend and a dividend yield of 3.99%. Methode Electronics’s payout ratio is -13.90%.

Insider Buying and Selling at Methode Electronics

In other news, Director Mary A. Lindsey purchased 8,800 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was bought at an average cost of $11.38 per share, with a total value of $100,144.00. Following the completion of the purchase, the director now owns 25,970 shares in the company, valued at approximately $295,538.60. This represents a 51.25 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director David P. Blom acquired 9,320 shares of the firm’s stock in a transaction on Wednesday, September 18th. The shares were bought at an average price of $10.81 per share, for a total transaction of $100,749.20. Following the completion of the transaction, the director now owns 37,531 shares of the company’s stock, valued at approximately $405,710.11. This trade represents a 33.04 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MEI. Robert W. Baird decreased their price target on shares of Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research report on Friday, September 6th. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

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.