Methode Electronics (NYSE:MEI) Issues Earnings Results

Methode Electronics (NYSE:MEI - Get Free Report) issued its quarterly earnings data on Wednesday. The electronics maker reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01, FiscalAI reports. Methode Electronics had a negative net margin of 5.30% and a negative return on equity of 5.27%. The business had revenue of $246.90 million during the quarter, compared to the consensus estimate of $237.69 million.Get Methode Electronics alerts:Methode Electronics Price PerformanceShares of MEI traded up $0.37 during mid-day trading on Wednesday, hitting $8.67. The company's stock had a trading volume of 462,361 shares, compared to its average volume of 383,719. The company has a current ratio of 2.50, a quick ratio of 1.63 and a debt-to-equity ratio of 0.47. Methode Electronics has a 1-year low of $5.08 and a 1-year high of $17.45. The firm has a market capitalization of $305.07 million, a P/E ratio of -5.59 and a beta of 1.08. The firm has a 50-day simple moving average of $7.19 and a 200 day simple moving average of $7.59. Institutional Investors Weigh In On Methode ElectronicsSeveral institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in Methode Electronics by 10.0% during the second quarter. JPMorgan Chase & Co. now owns 191,757 shares of the electronics maker's stock worth $1,824,000 after buying an additional 17,418 shares during the period. Empowered Funds LLC raised its position in Methode Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker's stock worth $812,000 after acquiring an additional 9,787 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Methode Electronics in the third quarter valued at about $198,000. Occudo Quantitative Strategies LP purchased a new stake in shares of Methode Electronics in the second quarter valued at about $179,000. Finally, Jain Global LLC acquired a new stake in shares of Methode Electronics in the third quarter valued at approximately $157,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors. Wall Street Analysts Forecast GrowthA number of equities research analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of Methode Electronics in a research report on Wednesday, October 8th. Wall Street Zen upgraded Methode Electronics from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Robert W. Baird upped their target price on Methode Electronics from $7.00 to $8.50 and gave the company a "neutral" rating in a research report on Thursday, September 11th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $11.25.Check Out Our Latest Report on Methode ElectronicsMethode Electronics Company Profile (Get Free Report)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.See AlsoFive stocks we like better than Methode ElectronicsPets Are Big Business: 4 Big-Ticket Pet Stocks to Add to Your Portfolio3 Stocks You’ll Wish You Bought Before 20263 Grocery Stocks That Can Help Take a Bite Out of Inflation Wall Street Punished CrowdStrike for Beating Earnings? Seriously?Election Stocks: How Elections Affect the Stock MarketOkta: Excuses to Sell Vs. Reasons to BuyThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Methode Electronics Right Now?Before you consider Methode Electronics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Methode Electronics wasn't on the list.While Methode Electronics currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here