A number of research firms have changed their ratings and price targets for Methode Electronics (NYSE: MEI):

  • 9/7/2016 – Methode Electronics had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $44.50 price target on the stock.
  • 9/6/2016 – Methode Electronics was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Methode Electronics, Inc. manufactures component devices world-wide for Original Equipment Manufacturers of information processing and networking equipment, voice and data communications systems, consumer electronics, automobiles, aerospace vehicles and industrial equipment. Products employ electrical, electronic and optical technologies as sensors, interconnections and controls. The company manufactures bus systems and provides independent laboratory services for qualification testing and certification of electronic and optical components. “
  • 9/6/2016 – Methode Electronics had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $46.00 price target on the stock, up previously from $45.00.
  • 9/2/2016 – Methode Electronics had its “buy” rating reaffirmed by analysts at B. Riley. They now have a $44.50 price target on the stock.
  • 9/2/2016 – Methode Electronics was downgraded by analysts at Craig Hallum from a “buy” rating to a “hold” rating. They now have a $37.00 price target on the stock.
  • 8/31/2016 – Methode Electronics had its “outperform” rating reaffirmed by analysts at Robert W. Baird. They now have a $45.00 price target on the stock.
  • 8/31/2016 – Methode Electronics was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Methode Electronics, Inc. manufactures component devices world-wide for Original Equipment Manufacturers of information processing and networking equipment, voice and data communications systems, consumer electronics, automobiles, aerospace vehicles and industrial equipment. Products employ electrical, electronic and optical technologies as sensors, interconnections and controls. The company manufactures bus systems and provides independent laboratory services for qualification testing and certification of electronic and optical components. “

Shares of Methode Electronics Inc. (NYSE:MEI) traded up 1.735% during midday trading on Wednesday, reaching $34.885. The company had a trading volume of 28,981 shares. Methode Electronics Inc. has a 12-month low of $23.83 and a 12-month high of $37.25. The stock’s 50 day moving average is $35.63 and its 200-day moving average is $31.56. The stock has a market capitalization of $1.29 billion, a PE ratio of 16.091 and a beta of 1.34.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Methode Electronics had a return on equity of 17.70% and a net margin of 10.31%. The firm earned $191.90 million during the quarter, compared to analyst estimates of $203.06 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that Methode Electronics Inc. will post $2.30 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which will be paid on Friday, October 28th. Shareholders of record on Friday, October 14th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.05%. The ex-dividend date is Wednesday, October 12th. Methode Electronics’s dividend payout ratio (DPR) is currently 16.67%.

In other Methode Electronics news, CFO Douglas A. Koman sold 26,666 shares of Methode Electronics stock in a transaction dated Friday, July 1st. The stock was sold at an average price of C$34.37, for a total transaction of C$916,510.42. Following the completion of the sale, the chief financial officer now owns 268,782 shares of the company’s stock, valued at C$9,238,037.34. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kill Theodore sold 8,000 shares of Methode Electronics stock in a transaction dated Wednesday, June 29th. The stock was sold at an average price of C$32.84, for a total value of C$262,720.00. Following the sale, the vice president now directly owns 263,830 shares of the company’s stock, valued at approximately C$8,664,177.20. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.

5 Day Chart for NYSE:MEI

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