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Methode Electronics Inc. (MEI) Has Surged To A New High After Q1 Report

Methode Electronics Inc. (MEI: Quote) reported first quarter EPS of $0.36 Thursday morning, up from $0.10 a year ago. The consensus estimate was for EPS of $0.21. The company raised its full-year 2014 earnings guidance to a range of $1.40 to $1.60 per share from the prior estimate of $0.91 to $1.11 per share. The consensus estimate is for EPS of $1.05.

Methode Electronics gapped open dramatically higher Thursday and is now up 6.48 at $24.11 on above average volume. The stock has surged past resistance and has set a new high for the year.

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by RTT Staff Writer

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