Methode Electronics (NYSE:MEI) updated its FY 2019 earnings guidance on Thursday. The company provided EPS guidance of $2.50-2.67 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.15. The company issued revenue guidance of $1-1.04 billion, compared to the consensus revenue estimate of $1.02 billion.Methode Electronics also updated its FY19 guidance to $2.50-2.67 EPS.
A number of research firms have recently issued reports on MEI. Zacks Investment Research raised shares of Methode Electronics from a sell rating to a hold rating in a research note on Thursday. B. Riley reaffirmed a buy rating and set a $42.00 target price on shares of Methode Electronics in a research note on Friday, December 7th. Craig Hallum set a $25.00 target price on shares of Methode Electronics and gave the stock a hold rating in a research note on Friday, December 7th. They noted that the move was a valuation call. ValuEngine raised shares of Methode Electronics from a strong sell rating to a sell rating in a research note on Wednesday, December 5th. Finally, Robert W. Baird raised shares of Methode Electronics from a neutral rating to an outperform rating and set a $44.00 target price on the stock in a research note on Tuesday, December 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $36.50.
MEI traded up $1.99 during trading hours on Thursday, hitting $29.96. 151,629 shares of the company’s stock were exchanged, compared to its average volume of 234,658. Methode Electronics has a 12-month low of $20.99 and a 12-month high of $45.45. The company has a market cap of $1.06 billion, a P/E ratio of 9.99 and a beta of 1.40. The company has a quick ratio of 1.94, a current ratio of 2.56 and a debt-to-equity ratio of 0.53.
In other news, Director Christopher J. Hornung purchased 8,200 shares of the stock in a transaction on Friday, December 21st. The stock was bought at an average price of $22.16 per share, for a total transaction of $181,712.00. Following the acquisition, the director now directly owns 49,050 shares of the company’s stock, valued at approximately $1,086,948. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ronald L.G. Tsoumas purchased 5,735 shares of the stock in a transaction on Friday, December 28th. The shares were purchased at an average price of $24.98 per share, with a total value of $143,260.30. The disclosure for this purchase can be found here. Insiders have acquired a total of 90,518 shares of company stock valued at $2,153,707 in the last quarter. 3.40% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION WARNING: “Methode Electronics (MEI) Issues FY 2019 Earnings Guidance” was originally published by Ticker Report and is owned by of Ticker Report. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://www.tickerreport.com/banking-finance/4203389/methode-electronics-mei-issues-fy-2019-earnings-guidance.html.
Methode Electronics Company Profile
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.
Further Reading: What is a blue-chip stock?
Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.