Methode Electronics Inc reports results for the quarter ended in January - Earnings Summary

Methode Electronics

07/03/2024 15:32

* Methode Electronics Inc  MEI.N  reported a quarterly
adjusted
loss of 33 cents​​ per share for the quarter ended in January,
lower than the same quarter last year, when the company reported
EPS of 54 cents.  The mean expectation of two analysts for the
quarter was for earnings of 9 cents per share. 
    * Revenue fell 7.4% to $259.50 million from a year ago;
analysts
expected $287.80 million. 
    * Methode Electronics Inc's reported EPS for the quarter was
a
loss of 33 cents​.
    * The company reported a quarterly loss of $11.6 million.
    * Methode Electronics Inc shares had fallen by 7.4% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 55%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electronic
equipment & parts peer group is also "buy"

Wall Street's median 12-month price target for Methode
Electronics Inc is $28.50 
This summary was machine generated from LSEG data March 7 at
03:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jan. 31 2024      0.09           -0.33          Missed
 Oct. 31 2023      0.13           0.05           Missed
 Jul. 31 2023      0.23           0.02           Missed
 Apr. 30 2023      0.46           0.22           Missed