Methode Electronics, Inc. (NYSE:MEI) Given Average Recommendation of “Hold” by Analysts

by · The Cerbat Gem

Methode Electronics, Inc. (NYSE:MEI – Get Free Report) has earned an average rating of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $22.00.

Several equities research analysts recently issued reports on the stock. Wall Street Zen cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research report on Monday, June 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Zacks Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, Craig Hallum assumed coverage on shares of Methode Electronics in a report on Tuesday, August 25th. They issued a “buy” rating and a $30.00 price target on the stock.

Check Out Our Latest Stock Report on MEI

Methode Electronics Trading Down 1.7%

NYSE:MEI opened at $13.29 on Friday. The firm has a 50 day moving average of $15.56 and a 200 day moving average of $11.84. Methode Electronics has a 52 week low of $4.88 and a 52 week high of $20.38. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $473.65 million, a price-to-earnings ratio of -12.77 and a beta of 1.54.

Methode Electronics (NYSE:MEI – Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $238.31 million. Methode Electronics had a negative return on equity of 5.63% and a negative net margin of 3.52%. As a group, sell-side analysts anticipate that Methode Electronics will post -0.81 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 16th will be given a dividend of $0.05 per share. The ex-dividend date is Friday, October 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. Methode Electronics’s dividend payout ratio (DPR) is -19.23%.

Institutional Investors Weigh In On Methode Electronics

A number of institutional investors have recently bought and sold shares of MEI. Integrated Wealth Concepts LLC bought a new position in Methode Electronics during the second quarter valued at about $64,000. Allworth Financial LP lifted its position in Methode Electronics by 123.6% during the 2nd quarter. Allworth Financial LP now owns 2,115 shares of the electronics maker’s stock worth $40,000 after buying an additional 1,169 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Methode Electronics in the 2nd quarter worth $549,000. Wellington Management Group LLP bought a new stake in Methode Electronics during the 2nd quarter worth approximately $1,658,000. Finally, Empowered Funds LLC bought a new stake in shares of Methode Electronics in the second quarter valued at about $11,882,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

About Methode Electronics

(Get Free Report)

Methode Electronics, Inc (NYSE: MEI) is a global designer and manufacturer of custom-engineered products and solutions for automotive, industrial, aerospace, commercial and other specialized markets. The company develops technologies that help customers manage electrical power, transmit signals, sense operating conditions and control equipment.

Its product portfolio includes sensors and sensor-based systems, user-interface and control products, LED lighting and display solutions, power distribution and electrical components, connectors, and other electromechanical assemblies.

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