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. Its products include integrated center consoles, hidden switches, ergonomic switches, transmission lead-frames, and LED-based lighting and sensors, which incorporate magneto-elastic sensing and other technologies that monitor the operation or status of a component or system. The Industrial segment manufactures lighting solutions; industrial safety radio remote controls; braided flexible cables; current-carrying laminated busbars and devices; custom power-product assemblies, such as PowerRail solution; high-current low-voltage flexible power cabling systems; and powder-coated busbars that are used in various markets and applications comprising aerospace, commercial vehicles, computers, industrial, power conversion, military, telecommunications, and transportation. The Interface segment provides various copper based transceivers and related accessories for the cloud computing hardware equipment and telecommunications broadband equipment markets; user interface solutions for the appliance, commercial food service, and point-of-sale equipment markets; and luid-level sensors for the marine/recreational vehicle and sump pump markets. The Medical segment offers Dabir Surfaces, a surface support technology aimed at pressure injury prevention for use by patients who are immobilized or otherwise at risk for pressure injuries, including patients undergoing long-duration surgical procedures. The company was founded in 1946 and is headquartered in Chicago, Illinois.
IPO Year:
Exchange: NYSE
Website: methode.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 4/9/2024 | $12.00 | Hold | Jefferies |
| 3/7/2024 | $17.00 | Buy → Neutral | Sidoti |
| 11/22/2022 | $52.00 | Buy | Jefferies |
| 1/20/2022 | Mkt Perform | Barrington Research |
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Jefferies initiated coverage of Methode Electronics with a rating of Hold and set a new price target of $12.00
Sidoti downgraded Methode Electronics from Buy to Neutral and set a new price target of $17.00
Jefferies initiated coverage of Methode Electronics with a rating of Buy and set a new price target of $52.00
Barrington Research initiated coverage of Methode Electronics with a rating of Mkt Perform
CHICAGO, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2025 results for the period ended November 2, 2024, on Thursday, December 5, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik, at 10:00 a.m. CST. To participate in the conference call, please dial 888-506-0062
CHICAGO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Lars Ullrich has been appointed as Senior Vice President, Global Automotive Business, effective December 2, 2024. The newly created position will oversee all global strategic, launch, and commercial activities for the company's automotive business. Mr. Ullrich most recently held the position of Head of Region Americas and Chief Business Officer for Larsen and Toubro Semiconductor Technologies, a semiconductor start-up company. He has over 20 years of busine
CHICAGO, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that as part of a planned transition resulting from the retirement of the former Chairman of the Board, Walter Aspatore, the company's Board of Directors has appointed Mark Schwabero as the new chairman of the board. Mr. Schwabero was previously appointed Methode's Vice Chairman of the Board in May 2024 and has been a director at the company since 2019. He was formerly Chairman, Chief Executive Officer and Director of Brunswick Corporation, a recreational mar
CHICAGO, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on November 1, 2024, to common stockholders of record at the close of business on October 18, 2024. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic produc
CHICAGO, Sept. 10, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, will present at the Sidoti Small Cap Conference on Wednesday, September 18th at 2:30 p.m. EDT. A simultaneous webcast can be accessed on the company's website, www.methode.com, by selecting the Investors page. The webcast will also be archived on the same Investors page. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle E
CHICAGO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Laura Kowalchik has been appointed Chief Financial Officer (CFO), effective October 1, 2024. Ms. Kowalchik succeeds David Rawden, a director at AlixPartners LLP, who has served as interim CFO since July 12, 2024. Ms. Kowalchik, currently the CFO of Communication & Power Industries (CPI), is a seasoned financial executive with more than 25 years of experience in strategic, management, and financial roles at public and private companies in the automotive and
CHICAGO, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its first quarter fiscal 2025 results for the period ended July 27, 2024, on Thursday, September 5, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its Chief Executive Officer, Jon DeGaynor, and Interim Chief Financial Officer, David Rawden, at 10:00 a.m. CDT. To participate in the conference call, please dial 888-506-0062 (domestic) or 9
CHICAGO, July 17, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that John T. Erwin has been named Chief Procurement Officer (CPO). Leveraging his 35-year career in various leadership roles in procurement and supply chain management for OEMs and Tier 1 suppliers, Mr. Erwin will lead all global procurement activities for Methode. His focus will be on evaluating current processes, procedures and organizational design, strengthening supplier relationships, and driving cost-savings initiatives across the organization. President
Positive Fourth Quarter Free Cash FlowNet Debt at Lowest Level of the Fiscal Year Over $140 Million in Program Awards in Fourth QuarterFiscal 2025 Actions Expected to Reposition Company for Growth in Fiscal 2026 Jon DeGaynor Appointed President, CEO and a Member of the Board of Directors CHICAGO, July 11, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the fourth quarter and full year ended April 27, 2024. Fiscal Fourth Quarter 2024 Highlights Net sales were $277.3 millionElectric and hybrid vehicle applicatio
Methode Electronics to Announce Fourth Quarter Fiscal 2024 Results on Thursday, July 11, 2024 Seasoned CEO Brings Deep Experience in Engineered Products and Track Record of Driving Successful Strategic Transformation CHICAGO, June 25, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Jon DeGaynor has been appointed President, Chief Executive Officer (CEO) and a member of the Board of Directors, effective July 15, 2024. Mr. DeGaynor succeeds Kevin Nystrom, a partner and managing director at AlixPartners LLP, who has served
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CHICAGO, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its second quarter fiscal 2025 results for the period ended November 2, 2024, on Thursday, December 5, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its President and Chief Executive Officer, Jon DeGaynor, and Chief Financial Officer, Laura Kowalchik, at 10:00 a.m. CST. To participate in the conference call, please dial 888-506-0062
CHICAGO, Sept. 11, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on November 1, 2024, to common stockholders of record at the close of business on October 18, 2024. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic produc
CHICAGO, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its first quarter fiscal 2025 results for the period ended July 27, 2024, on Thursday, September 5, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its Chief Executive Officer, Jon DeGaynor, and Interim Chief Financial Officer, David Rawden, at 10:00 a.m. CDT. To participate in the conference call, please dial 888-506-0062 (domestic) or 9
Positive Fourth Quarter Free Cash FlowNet Debt at Lowest Level of the Fiscal Year Over $140 Million in Program Awards in Fourth QuarterFiscal 2025 Actions Expected to Reposition Company for Growth in Fiscal 2026 Jon DeGaynor Appointed President, CEO and a Member of the Board of Directors CHICAGO, July 11, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the fourth quarter and full year ended April 27, 2024. Fiscal Fourth Quarter 2024 Highlights Net sales were $277.3 millionElectric and hybrid vehicle applicatio
Methode Electronics to Announce Fourth Quarter Fiscal 2024 Results on Thursday, July 11, 2024 Seasoned CEO Brings Deep Experience in Engineered Products and Track Record of Driving Successful Strategic Transformation CHICAGO, June 25, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Jon DeGaynor has been appointed President, Chief Executive Officer (CEO) and a member of the Board of Directors, effective July 15, 2024. Mr. DeGaynor succeeds Kevin Nystrom, a partner and managing director at AlixPartners LLP, who has served
CHICAGO, June 13, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on July 26, 2024, to common stockholders of record at the close of business on July 12, 2024. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products for
CHICAGO, March 14, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting, and power distribution applications, announced today that its board of directors has declared a quarterly dividend of $0.14 per share to be paid on April 26, 2024, to common stockholders of record at the close of business on April 12, 2024. About Methode Electronics, Inc.Methode Electronics, Inc. (NYSE:MEI) is a leading global supplier of custom-engineered solutions with sales, engineering and manufacturing locations in North America, Europe, Middle East and Asia. We design, engineer, and produce mechatronic products f
CHICAGO, March 07, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the third quarter of fiscal 2024 ended January 27, 2024. Fiscal Third Quarter 2024 Highlights Net sales were $259.5 millionElectric and hybrid vehicle applications were 19 percent of net salesNet loss was $11.6 million, or $0.33 per diluted shareFree cash flow was $12.2 millionCompany purchased 130,592 shares of its common stock for $3.0 millionForward-looking guidance suspended Management CommentsPresident and Chief Executive Officer Avi Avula
CHICAGO, Feb. 22, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced it will release its third quarter fiscal 2024 results for the period ended January 27, 2024, on Thursday, March 7, 2024, before the market opens. Following the release, the company will conduct a conference call and webcast to review financial and operational highlights led by its President and Chief Executive Officer, Avi Avula, and Chief Financial Officer, Ronald L. G. Tsoumas, at 10:00 a.m. CST. To participate in the conference call, please dial 888-506-0062 (dome
CHICAGO, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting and power distribution applications, today announced financial results for the second quarter of fiscal 2024 ended October 28, 2023. Fiscal Second Quarter 2024 Highlights Net sales were $288.0 millionElectric and hybrid vehicle applications were 19 percent of net salesGoodwill impairment of $56.5 million in North American and European Automotive Reporting UnitsNet loss was $55.3 million, or $1.55 per diluted shareAdjusted net income was $2.4 million, or $0.06 per diluted shareThe impact of the UAW strike on earnings was
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During times of turbulence and uncertainty in the markets, even when markets are at all-time highs, many investors turn to dividend-yielding stocks. These are often companies that have high free cash flows and reward shareholders with a high dividend payout. Benzinga readers can review the latest analyst takes on their favorite stocks by visiting our Analyst Stock Ratings page. Traders can sort through Benzinga's extensive database of analyst ratings, including by analyst accuracy. Below are the ratings of the most accurate analysts for three high-yielding stocks in the information technology sector. Xerox Holdings Corporation (NASDAQ:XRX) Dividend Yield: 8.41% Citigroup anal
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U.S. stocks were mostly higher, with the Dow Jones index gaining around 100 points on Thursday. Shares of Methode Electronics, Inc. (NYSE:MEI) rose sharply during Thursday's session after the company reported better-than-expected fourth-quarter sales results. Methode Electronics reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million. Adjusted EPS loss of 23 cents missed the analyst consensus loss estimate of 20 cents, according to data from Benzinga Pro. Methode Electronics shares surged 29.4% to $12.22 on Thursday. Here are some other big stocks recording gains in today’s session.
Custom-engineered solutions provider Methode Electronics, Inc (NYSE:MEI) reported a fourth-quarter fiscal 2024 net sales decline of 7.9% year-on-year to $277.30 million, beating the analyst consensus estimate of $264.04 million. Lower Automotive segment sales in all geographic regions and unfavorable foreign currency translation led to a sales decrease for the quarter. Adjusted EPS loss of $0.23 missed the analyst consensus loss estimate of $0.20. The stock price climbed after the print. Segments: Automotive segment’s net sales were $145.9 million, down from $186.2 million primarily due to lower volume in Asia and Europe. Net sales for the Industrial segment were $117.2 million, up
Guidance For fiscal 2025, the company expects net sales to be similar to fiscal 2024 and adjusted pre-tax income to be approaching breakeven. The adjusted pre-tax income for the second half of fiscal 2025 is expected to be significantly stronger than the first half, with the first quarter of fiscal 2025 being similarly negative as the fourth quarter of fiscal 2024. For fiscal 2026, the company expects net sales to be greater than fiscal 2025 and pre-tax income to be positive and notably greater than fiscal 2025.
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CHICAGO, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Lars Ullrich has been appointed as Senior Vice President, Global Automotive Business, effective December 2, 2024. The newly created position will oversee all global strategic, launch, and commercial activities for the company's automotive business. Mr. Ullrich most recently held the position of Head of Region Americas and Chief Business Officer for Larsen and Toubro Semiconductor Technologies, a semiconductor start-up company. He has over 20 years of busine
CHICAGO, Aug. 28, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Laura Kowalchik has been appointed Chief Financial Officer (CFO), effective October 1, 2024. Ms. Kowalchik succeeds David Rawden, a director at AlixPartners LLP, who has served as interim CFO since July 12, 2024. Ms. Kowalchik, currently the CFO of Communication & Power Industries (CPI), is a seasoned financial executive with more than 25 years of experience in strategic, management, and financial roles at public and private companies in the automotive and
NEW YORK, June 7, 2024 /PRNewswire/ -- S&P Dow Jones Indices ("S&P DJI") will make the following changes to the S&P 500, S&P MidCap 400, and S&P SmallCap 600 indices effective prior to the open of trading on Monday, June 24, to coincide with the quarterly rebalance. The changes ensure each index is more representative of its market capitalization range. All companies being added to the S&P 500 are more representative of the large-cap market space, all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space, and all companies being added to the S&P SmallCap 600 are more representative of the small-cap market space. The companies being removed from the S
Kevin Nystrom Appointed Interim Chief Executive Officer Mark Schwabero Appointed Vice Chairman of the Board CHICAGO, May 06, 2024 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Kevin Nystrom, a partner and managing director at AlixPartners LLP, has been appointed interim CEO, effective immediately. The company has previously disclosed its ongoing engagement with AlixPartners for various consulting services, including cost reduction and financial advisory. Mr. Nystrom succeeds Avi Avula, who resigned from his position as Pre
CHICAGO, Dec. 19, 2023 (GLOBE NEWSWIRE) -- Methode Electronics, Inc. (NYSE:MEI), a leading global supplier of custom-engineered solutions for user interface, LED lighting system and power distribution applications, announced today that Avi Avula has been appointed as Methode's new President and Chief Executive Officer (CEO), starting on January 29, 2024. Mr. Avula's appointment follows the previously announced retirement of Donald W. Duda, President and CEO. Mr. Duda will work with Mr. Avula through a three-month transition period, after which Mr. Duda will serve as a strategic consultant for a nine-month period. Mr. Avula will also be appointed as a director of Methode as of his start d
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