Methode Electronics, Inc. (NYSE:MEI) Receives Average Rating of “Hold” from Analysts
Methode Electronics, Inc. (NYSE:MEI) has been assigned an average recommendation of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $47.00.
A number of research firms have weighed in on MEI. B. Riley reaffirmed a “buy” rating and set a $49.00 price target on shares of Methode Electronics in a research note on Friday, June 23rd. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Robert W. Baird reaffirmed an “outperform” rating and set a $47.00 price target (down previously from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. Finally, BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th.
Shares of Methode Electronics (NYSE:MEI) traded down 0.25% during trading on Monday, hitting $40.40. 348,865 shares of the company traded hands. Methode Electronics has a one year low of $29.85 and a one year high of $46.40. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 16.29 and a beta of 0.78. The firm has a 50 day moving average price of $40.70 and a 200-day moving average price of $42.20.
Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $0.05. The company had revenue of $219.70 million for the quarter, compared to the consensus estimate of $214.39 million. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. Methode Electronics’s revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Analysts predict that Methode Electronics will post $2.48 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, July 12th. Methode Electronics’s dividend payout ratio is presently 14.52%.
Institutional investors have recently modified their holdings of the stock. Dubuque Bank & Trust Co. acquired a new position in shares of Methode Electronics during the first quarter worth approximately $202,000. Independent Portfolio Consultants Inc. increased its position in shares of Methode Electronics by 6.5% in the first quarter. Independent Portfolio Consultants Inc. now owns 18,830 shares of the electronics maker’s stock worth $859,000 after buying an additional 1,155 shares in the last quarter. Nationwide Fund Advisors increased its position in shares of Methode Electronics by 6.0% in the first quarter. Nationwide Fund Advisors now owns 63,599 shares of the electronics maker’s stock worth $2,900,000 after buying an additional 3,577 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock worth $185,000 after buying an additional 60 shares in the last quarter. Finally, Legato Capital Management LLC increased its position in shares of Methode Electronics by 4,460.0% in the first quarter. Legato Capital Management LLC now owns 67,944 shares of the electronics maker’s stock worth $1,490,000 after buying an additional 66,454 shares in the last quarter. 89.26% of the stock is currently owned by institutional investors and hedge funds.
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Methode Electronics Company Profile
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.
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