Methode Electronics (NYSE:MEI – Get Rating) issued an replace on its FY 2022 earnings steering on Wednesday morning. The corporate supplied earnings per share steering of $2.68-$2.72 for the interval, in comparison with the consensus earnings per share estimate of $3.08. The corporate issued income steering of $1.16 billion-$1.16 billion, in comparison with the consensus income estimate of $1.17 billion. Methode Electronics additionally up to date its FY 2023 steering to $2.70-$3.10 EPS.
Shares of MEI opened at $42.41 on Wednesday. The corporate has a market capitalization of $1.57 billion, a P/E ratio of 13.81 and a beta of 1.08. The corporate has a fast ratio of two.32, a present ratio of three.14 and a debt-to-equity ratio of 0.22. The agency has a 50 day shifting common of $44.39 and a 200 day shifting common of $44.83. Methode Electronics has a twelve month low of $40.83 and a twelve month excessive of $50.19.
The corporate additionally not too long ago declared a quarterly dividend, which was paid on Friday, April twenty ninth. Buyers of report on Thursday, April 14th got a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Wednesday, April thirteenth. Methode Electronics’s dividend payout ratio (DPR) is at present 18.24%.
MEI has been the topic of a number of analyst studies. Robert W. Baird diminished their worth goal on shares of Methode Electronics from $46.00 to $42.00 in a analysis report on Wednesday. StockNews.com raised shares of Methode Electronics from a maintain ranking to a purchase ranking in a analysis report on Monday, Could twenty third.
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A number of institutional buyers have not too long ago modified their holdings of the corporate. Jane Road Group LLC bought a brand new place in shares of Methode Electronics throughout the 1st quarter value $1,342,000. Earnest Companions LLC bought a brand new place in shares of Methode Electronics throughout the 1st quarter value $10,867,000. Captrust Monetary Advisors lifted its stake in shares of Methode Electronics by 29.5% throughout the 1st quarter. Captrust Monetary Advisors now owns 3,824 shares of the electronics maker’s inventory valued at $165,000 after shopping for an extra 870 shares within the final quarter. State Road Corp lifted its stake in shares of Methode Electronics by 0.9% throughout the 1st quarter. State Road Corp now owns 1,346,029 shares of the electronics maker’s inventory valued at $58,216,000 after shopping for an extra 12,312 shares within the final quarter. Lastly, Vident Funding Advisory LLC lifted its stake in shares of Methode Electronics by 17.2% throughout the 1st quarter. Vident Funding Advisory LLC now owns 30,959 shares of the electronics maker’s inventory valued at $1,338,000 after shopping for an extra 4,552 shares within the final quarter. Institutional buyers and hedge funds personal 95.41% of the corporate’s inventory.
About Methode Electronics (Get Rating)
Methode Electronics, Inc designs, manufactures, and markets part and subsystem gadgets worldwide. It operates by way of 4 segments: Automotive, Industrial, Interface, and Medical. The Automotive section provides digital and electro-mechanical gadgets, and associated merchandise to car unique tools producers straight or by way of their tiered suppliers.
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