Methode Electronics, Inc. (MEI) Receives Consensus Recommendation of “Buy” from Analysts
Methode Electronics, Inc. (NYSE:MEI) has earned a consensus recommendation of “Buy” from the six brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $48.33.
A number of brokerages recently weighed in on MEI. Robert W. Baird restated a “buy” rating and set a $46.00 price objective on shares of Methode Electronics in a research note on Tuesday, October 17th. Zacks Investment Research upgraded Methode Electronics from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, October 18th. B. Riley restated a “buy” rating and set a $49.00 price objective on shares of Methode Electronics in a research note on Wednesday, June 28th. BidaskClub upgraded Methode Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. Finally, FBR & Co restated an “outperform” rating and set a $49.00 price objective on shares of Methode Electronics in a research note on Tuesday, July 18th.
Institutional investors have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC raised its stake in Methode Electronics by 22.2% in the second quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock valued at $113,000 after buying an additional 500 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in Methode Electronics in the second quarter valued at about $122,000. Riverhead Capital Management LLC raised its stake in Methode Electronics by 87.3% in the second quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after buying an additional 1,396 shares during the last quarter. Victory Capital Management Inc. raised its stake in Methode Electronics by 9.4% in the first quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock valued at $138,000 after buying an additional 260 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Methode Electronics in the second quarter valued at about $132,000. Institutional investors own 89.59% of the company’s stock.
Methode Electronics (NYSE MEI) traded down 0.11% during mid-day trading on Wednesday, hitting $45.90. 143,422 shares of the stock traded hands. The company has a 50-day moving average of $42.18 and a 200 day moving average of $41.09. The firm has a market capitalization of $1.69 billion, a P/E ratio of 18.66 and a beta of 0.76. Methode Electronics has a 1-year low of $29.85 and a 1-year high of $46.60.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.12. The firm had revenue of $201.20 million during the quarter, compared to analysts’ expectations of $189.40 million. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. On average, equities research analysts anticipate that Methode Electronics will post $2.58 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, October 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 14.63%.
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About Methode Electronics
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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