Methode Electronics (NYSE:MEI) Trading Down 6.2% – What’s Next?

by · The Markets Daily

Methode Electronics, Inc. (NYSE:MEI – Get Free Report)’s share price dropped 6.2% on Thursday . The stock traded as low as $17.28 and last traded at $17.2650. 40,150 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 676,543 shares. The stock had previously closed at $18.41.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research downgraded Methode Electronics from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a report on Tuesday, April 21st. Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Monday. Robert W. Baird boosted their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Finally, Sidoti restated a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a report on Friday, June 26th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $19.33.

View Our Latest Stock Report on MEI

Methode Electronics Price Performance

The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66. The stock has a 50 day moving average price of $11.63 and a two-hundred day moving average price of $8.72. The firm has a market capitalization of $578.22 million, a price-to-earnings ratio of -16.15 and a beta of 1.59.

Methode Electronics (NYSE:MEI – Get Free Report) last posted its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. The firm had revenue of $298.10 million during the quarter, compared to analysts’ expectations of $238.46 million. As a group, analysts expect that Methode Electronics, Inc. will post -0.95 EPS for the current year.

Methode Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, July 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.2%. Methode Electronics’s dividend payout ratio is -19.80%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in Methode Electronics by 51.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 291,065 shares of the electronics maker’s stock worth $2,198,000 after buying an additional 99,308 shares in the last quarter. Tudor Investment Corp ET AL grew its stake in shares of Methode Electronics by 84.8% in the third quarter. Tudor Investment Corp ET AL now owns 162,766 shares of the electronics maker’s stock worth $1,229,000 after acquiring an additional 74,701 shares in the last quarter. Penn Capital Management Company LLC acquired a new position in shares of Methode Electronics in the third quarter worth $1,340,000. 4D Advisors LLC purchased a new stake in shares of Methode Electronics during the fourth quarter worth $3,320,000. Finally, Mutual Advisors LLC increased its position in shares of Methode Electronics by 16.4% during the fourth quarter. Mutual Advisors LLC now owns 134,649 shares of the electronics maker’s stock worth $894,000 after acquiring an additional 18,990 shares during the period. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Methode Electronics

(Get Free Report)

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.

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