Shares of Methode Electronics, Inc. (NYSE:MEI) have earned a consensus recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $45.50.
Several research analysts have recently issued reports on the company. BidaskClub lowered Methode Electronics from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. FBR & Co restated an “outperform” rating and issued a $49.00 price target on shares of Methode Electronics in a research report on Tuesday, July 18th. B. Riley reiterated a “buy” rating and set a $49.00 target price on shares of Methode Electronics in a report on Wednesday, June 28th. Zacks Investment Research lowered Methode Electronics from a “hold” rating to a “sell” rating in a report on Saturday, June 24th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $47.00 target price (down from $51.00) on shares of Methode Electronics in a report on Monday, June 19th.
Methode Electronics (MEI) opened at 37.65 on Monday. The stock has a market cap of $1.39 billion, a PE ratio of 15.18 and a beta of 0.76. The stock has a 50 day moving average price of $40.11 and a 200-day moving average price of $41.84. Methode Electronics has a 12 month low of $29.85 and a 12 month high of $46.40.
Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.05. Methode Electronics had a return on equity of 18.81% and a net margin of 11.38%. The business had revenue of $219.70 million for the quarter, compared to analyst estimates of $214.39 million. During the same period last year, the company earned $0.60 EPS. The firm’s revenue was up 3.2% on a year-over-year basis. On average, analysts expect that Methode Electronics will post $2.46 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 14th were issued a dividend of $0.09 per share. The ex-dividend date of this dividend was Wednesday, July 12th. This represents a $0.36 annualized dividend and a yield of 0.96%. Methode Electronics’s dividend payout ratio is presently 14.52%.
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Hedge funds have recently added to or reduced their stakes in the stock. Miles Capital Inc. increased its stake in Methode Electronics by 0.3% in the first quarter. Miles Capital Inc. now owns 6,391 shares of the electronics maker’s stock valued at $291,000 after buying an additional 17 shares in the last quarter. Alps Advisors Inc. increased its stake in Methode Electronics by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,858 shares of the electronics maker’s stock valued at $447,000 after buying an additional 28 shares in the last quarter. Pinebridge Investments L.P. increased its stake in Methode Electronics by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 4,847 shares of the electronics maker’s stock valued at $199,000 after buying an additional 49 shares in the last quarter. State of Alaska Department of Revenue increased its stake in 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 valued at $185,000 after buying an additional 60 shares in the last quarter. Finally, US Bancorp DE increased its stake in Methode Electronics by 0.3% in the first quarter. US Bancorp DE now owns 24,691 shares of the electronics maker’s stock valued at $1,126,000 after buying an additional 64 shares in the last quarter. 89.42% of the stock is currently owned by hedge funds and other institutional investors.
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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