Methode Electronics Inc. Reaches New 12-Month High at $26.94 (MEI)
Methode Electronics (NYSE:MEI)’s share price reached a new 52-week high on Wednesday, American Banking News reports. The company traded as high as $26.94 and last traded at $26.94, with a volume of 171,871 shares traded. The stock had previously closed at $26.25.
A number of research firms have recently commented on MEI. Analysts at Zacks upgraded shares of Methode Electronics (NYSE:MEI) from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, September 2nd. They now have a $25.10 price target on the stock. Separately, analysts at Robert W. Baird raised their price target on shares of Methode Electronics (NYSE:MEI) from $20.00 to $30.00 in a research note to investors on Friday, August 30th. They now have an “outperform” rating on the stock. Finally, analysts at Robert W. Baird upgraded shares of Methode Electronics (NYSE:MEI) from a “neutral” rating to an “outperform” rating in a research note to investors on Friday, June 21st. They now have a $18.00 price target on the stock, up previously from $12.00.
In other Methode Electronics news, Director J Edward Colgate sold 4,000 shares of the stock on the open market in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $25.85, for a total transaction of $103,400.00. Following the transaction, the director now directly owns 27,070 shares in the company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Methode Electronics has a one year low of $8.38 and a one year high of $26.66. The stock has a 50-day moving average of $20.8 and a 200-day moving average of $16.59. The company has a market cap of $996.6 million and a P/E ratio of 19.59.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.36 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.21 by $0.15. The company had revenue of $167.30 million for the quarter, compared to the consensus estimate of $148.90 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The company’s quarterly revenue was up 40.9% on a year-over-year basis. On average, analysts predict that Methode Electronics will post $1.49 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Stockholders of record on Friday, October 11th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Wednesday, October 9th.
Methode Electronics, Inc, is a manufacturer of component and subsystem devices. The Company operates in four segments: automotive, interconnect, power products, and other.
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