Methode Electronics (NYSE:MEI) Issues FY20 Earnings Guidance

Methode Electronics (NYSE:MEI) updated its FY20 earnings guidance on Thursday. The company provided EPS guidance of $3.25-3.55 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.32. The company issued revenue guidance of $1.13-1.17 billion, compared to the consensus revenue estimate of $1.14 billion.Methode Electronics also updated its FY 2020 guidance to $3.25-3.55 EPS.

A number of brokerages recently weighed in on MEI. Zacks Investment Research upgraded shares of Methode Electronics from a sell rating to a hold rating in a research report on Tuesday. ValuEngine upgraded shares of Methode Electronics from a strong sell rating to a sell rating in a research report on Monday. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. Methode Electronics presently has an average rating of Hold and an average price target of $40.25.

Methode Electronics stock opened at $28.41 on Thursday. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 9.60 and a beta of 1.47. The firm’s fifty day moving average is $28.18 and its 200 day moving average is $28.21. The company has a quick ratio of 1.86, a current ratio of 2.51 and a debt-to-equity ratio of 0.40. Methode Electronics has a 52-week low of $20.99 and a 52-week high of $40.95.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Thursday, August 29th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.07. The company had revenue of $270.20 million for the quarter, compared to the consensus estimate of $268.15 million. Methode Electronics had a net margin of 9.16% and a return on equity of 16.20%. Methode Electronics’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. On average, equities research analysts anticipate that Methode Electronics will post 3.3 earnings per share for the current fiscal year.

About Methode Electronics

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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