Methode Electronics Inc. (MEI) Receives Average Recommendation of “Hold” from Brokerages

Shares of Methode Electronics Inc. (NYSE:MEI) have received a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $47.50.

A number of analysts have commented on MEI shares. B. Riley restated a “buy” rating on shares of Methode Electronics in a research report on Wednesday, November 1st. Robert W. Baird restated a “buy” rating and issued a $46.00 price target on shares of Methode Electronics in a research report on Tuesday, October 17th. ValuEngine cut Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, December 7th. Finally, Zacks Investment Research cut Methode Electronics from a “buy” rating to a “hold” rating in a research report on Thursday, December 21st.

Methode Electronics (NYSE MEI) traded down $0.30 during trading on Friday, reaching $40.90. The company had a trading volume of 165,644 shares, compared to its average volume of 210,295. The stock has a market capitalization of $1,559.86 and a PE ratio of 16.74. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.22 and a current ratio of 3.74. Methode Electronics has a 12 month low of $36.05 and a 12 month high of $48.44.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Thursday, December 7th. The electronics maker reported $0.64 EPS for the quarter, meeting analysts’ consensus estimates of $0.64. The company had revenue of $230.10 million during the quarter, compared to analysts’ expectations of $218.03 million. Methode Electronics had a return on equity of 17.07% and a net margin of 10.81%. Methode Electronics’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.66 earnings per share. equities research analysts anticipate that Methode Electronics will post 2.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 12th were given a $0.11 dividend. This is a boost from Methode Electronics’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, January 11th. This represents a $0.44 dividend on an annualized basis and a yield of 1.08%. Methode Electronics’s dividend payout ratio is presently 18.03%.

In other news, Director Isabelle C. Goossen sold 2,500 shares of the company’s stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $40.50, for a total value of $101,250.00. Following the completion of the transaction, the director now owns 40,950 shares of the company’s stock, valued at $1,658,475. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Elias Khoury sold 21,400 shares of the company’s stock in a transaction dated Friday, December 21st. The stock was sold at an average price of $40.30, for a total value of $862,420.00. Following the completion of the transaction, the vice president now directly owns 267,200 shares of the company’s stock, valued at approximately $10,768,160. The disclosure for this sale can be found here. Corporate insiders own 4.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MEI. Wedge Capital Management L L P NC bought a new position in shares of Methode Electronics in the third quarter worth about $18,433,000. Heartland Advisors Inc. boosted its stake in shares of Methode Electronics by 205.2% in the fourth quarter. Heartland Advisors Inc. now owns 352,735 shares of the electronics maker’s stock worth $14,145,000 after acquiring an additional 237,170 shares during the period. Formula Growth Ltd. boosted its stake in shares of Methode Electronics by 87.1% in the third quarter. Formula Growth Ltd. now owns 280,700 shares of the electronics maker’s stock worth $11,888,000 after acquiring an additional 130,700 shares during the period. Prudential Financial Inc. boosted its stake in shares of Methode Electronics by 91.4% in the third quarter. Prudential Financial Inc. now owns 210,706 shares of the electronics maker’s stock worth $8,924,000 after acquiring an additional 100,640 shares during the period. Finally, Dean Capital Management bought a new position in shares of Methode Electronics in the second quarter worth about $3,145,000. 86.60% of the stock is owned by hedge funds and other institutional investors.

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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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