Methode Electronics (NYSE:MEI) Announces Quarterly Earnings Results

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

Methode Electronics Price Performance

Shares of Methode Electronics stock opened at $11.61 on Thursday. Methode Electronics has a twelve month low of $8.54 and a twelve month high of $25.20. The stock has a market capitalization of $409.14 million, a P/E ratio of -2.88 and a beta of 0.81. The company has a current ratio of 2.35, a quick ratio of 1.50 and a debt-to-equity ratio of 0.40. The business’s fifty day moving average price is $10.35 and its 200 day moving average price is $10.77.

Methode Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Friday, October 18th were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend was Friday, October 18th. Methode Electronics’s payout ratio is currently -13.90%.

Insider Transactions at Methode Electronics

In other Methode Electronics news, Director David P. Blom bought 9,320 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were acquired at an average cost of $10.81 per share, with a total value of $100,749.20. Following the completion of the transaction, the director now owns 37,531 shares in the company, valued at $405,710.11. The trade was a 33.04 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary A. Lindsey bought 8,800 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were acquired at an average cost of $11.38 per share, for a total transaction of $100,144.00. Following the completion of the transaction, the director now owns 25,970 shares of the company’s stock, valued at approximately $295,538.60. The trade was a 51.25 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 1.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on MEI shares. StockNews.com upgraded Methode Electronics from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Robert W. Baird decreased their price objective on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Friday, September 6th.

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.