Methode Electronics (NYSE:MEI) Releases Earnings Results, Misses Estimates By $0.40 EPS

Methode Electronics (NYSE:MEI) announced its earnings results on Thursday. The electronics maker reported ($0.33) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.40), Zacks reports. Methode Electronics had a positive return on equity of 0.07% and a negative net margin of 5.09%. The business had revenue of $259.50 million during the quarter, compared to analyst estimates of $288.50 million. During the same period in the previous year, the firm earned $0.54 earnings per share.

Methode Electronics Stock Down 2.6 %

NYSE MEI opened at $14.12 on Friday. The stock has a fifty day moving average of $20.91 and a 200-day moving average of $23.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.74 and a quick ratio of 2.07. Methode Electronics has a 52 week low of $13.09 and a 52 week high of $46.58.

Institutional Trading of Methode Electronics

Several hedge funds and other institutional investors have recently modified their holdings of MEI. Price T Rowe Associates Inc. MD raised its position in Methode Electronics by 9.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,747 shares of the electronics maker’s stock valued at $586,000 after buying an additional 2,133 shares during the last quarter. Barclays PLC grew its position in Methode Electronics by 214.9% in the fourth quarter. Barclays PLC now owns 65,863 shares of the electronics maker’s stock valued at $1,498,000 after purchasing an additional 44,948 shares in the last quarter. Public Sector Pension Investment Board lifted its position in Methode Electronics by 67.9% during the 4th quarter. Public Sector Pension Investment Board now owns 74,734 shares of the electronics maker’s stock worth $1,699,000 after buying an additional 30,225 shares in the last quarter. Bridgeway Capital Management LLC acquired a new position in shares of Methode Electronics during the 4th quarter worth about $4,598,000. Finally, Royal Bank of Canada increased its position in shares of Methode Electronics by 28.3% in the fourth quarter. Royal Bank of Canada now owns 25,578 shares of the electronics maker’s stock valued at $581,000 after acquiring an additional 5,644 shares during the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on MEI. StockNews.com cut Methode Electronics from a “hold” rating to a “sell” rating in a report on Friday, December 8th. Sidoti restated a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a research report on Thursday.

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.