Methode Electronics Inc. Reaches New 12-Month High at $29.16 (MEI)
Methode Electronics (NYSE:MEI)’s share price reached a new 52-week high during trading hours on Friday, Analyst Ratings.Net reports. The company traded as high as $29.16 and last traded at $28.87, with a volume of 135,346 shares traded. The stock had previously closed at $28.89.
MEI has been the subject of a number of recent research reports. 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. 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.
Methode Electronics has a 52-week low of $8.38 and a 52-week high of $29.16. The stock’s 50-day moving average is $24.3 and its 200-day moving average is $17.88. The company has a market cap of $1.080 billion and a P/E ratio of 21.56.
Methode Electronics (NYSE:MEI) last released its earnings data on Thursday, August 29th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters 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. Analysts expect that Methode Electronics will post $1.49 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 25th. Investors 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 0.97%. 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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