Methode Electronics (NYSE:MEI) Releases FY 2022 Earnings Guidance

Methode Electronics (NYSE:MEI) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share guidance of $3.350-$3.750 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.130. The company issued revenue guidance of $1.18 billion-$1.24 billion, compared to the consensus revenue estimate of $1.07 billion.Methode Electronics also updated its Q1 2022 guidance to $0.680-$0.800 EPS.

MEI stock traded down $1.20 during trading on Thursday, hitting $45.35. 774 shares of the company traded hands, compared to its average volume of 181,082. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.03 and a quick ratio of 2.47. The stock has a 50-day moving average of $47.83. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 13.69 and a beta of 1.29. Methode Electronics has a 1 year low of $23.97 and a 1 year high of $50.19.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, June 23rd. The electronics maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10. Methode Electronics had a return on equity of 14.78% and a net margin of 11.24%. The firm had revenue of $301.00 million during the quarter, compared to analyst estimates of $280.06 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. The business’s quarterly revenue was up 42.9% compared to the same quarter last year. As a group, equities analysts predict that Methode Electronics will post 3.45 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 30th. Shareholders of record on Friday, July 16th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Thursday, July 15th. This is a positive change from Methode Electronics’s previous quarterly dividend of $0.11. Methode Electronics’s dividend payout ratio (DPR) is 16.72%.

Separately, Robert W. Baird set a $47.97 price objective on shares of Methode Electronics and gave the company a hold rating in a research note on Wednesday, July 14th.

In related news, CEO Donald W. Duda sold 25,594 shares of the business’s stock in a transaction dated Wednesday, July 14th. The shares were sold at an average price of $47.30, for a total transaction of $1,210,596.20. Following the transaction, the chief executive officer now owns 1,210,509 shares in the company, valued at $57,257,075.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Amit N. Patel sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, June 30th. The stock was sold at an average price of $49.30, for a total transaction of $49,300.00. Following the completion of the sale, the chief accounting officer now owns 7,807 shares of the company’s stock, valued at $384,885.10. The disclosure for this sale can be found here. Over the last quarter, insiders sold 49,968 shares of company stock worth $2,369,817. Corporate insiders own 3.20% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices 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.

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