Methode Electronics (MEI) reported quarterly earnings results on Thursday, Sep-1-2016. The company said it had a profit of $0.57 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.04. Analysts had a consensus of $0.53. The company posted revenue of $191.90 million in the period, compared to analysts expectations of $203.06 million. The company’s revenue was down -5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS.
Many Wall Street Analysts have commented on Methode Electronics. Company shares were Upgraded by Robert W. Baird on Jun 24, 2016 to ” Outperform”, Firm has raised the Price Target to $ 45 from a previous price target of $35 .
Methode Electronics closed down -0.1 points or -0.27% at $36.78 with 2,10,753 shares getting traded on Monday. Post opening the session at $37.08, the shares hit an intraday low of $36.75 and an intraday high of $37.1 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
In a different news, on Aug 11, 2016, Paul G Shelton (director) sold 2,150 shares at $36.06 per share price. According to the SEC, on Jul 6, 2016, Douglas A Koman (CFO) purchased 519 shares at $0.00 per share price. On Jul 6, 2016, Kill Theodore (VP Worldwide Auto Sales) sold 4,000 shares at $34.29 per share price, according to the Form-4 filing with the securities and exchange commission.
Methode Electronics Inc. (Methode) is a global manufacturer of component and subsystem devices. The Company designs manufactures and markets devices employing electrical radio remote control electronic wireless and sensing technologies. It operates through segments including Automotive Interface Power Products and Other. The Automotive segment supplies electronic and electro-mechanical devices and related products to automobile original equipment manufacturers. The Interface segment provides a range of copper and fiber-optic interface and interface solutions for the aerospace appliance commercial computer construction consumer material handling medical military mining networking storage and telecommunications markets. The Power Products segment manufactures braided flexible cables and current-carrying laminated bus devices among others. The Other segment includes medical devices inverters and battery systems and insulated gate bipolar transistor solutions.