Methode Electronics Inc. (NYSE:MEI) announced a quarterly dividend on Thursday, June 18th, Zacks reports. Stockholders of record on Friday, July 17th will be given a dividend of 0.11 per share by the electronics maker on Friday, July 31st. This represents a $0.44 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, July 16th.
Methode Electronics has raised its dividend payment by an average of 120.0% per year over the last three years and has increased its dividend every year for the last 1 years. Methode Electronics has a dividend payout ratio of 14.6% indicating that its dividend is sufficiently covered by earnings.
NYSE:MEI opened at $28.24 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.93 and a quick ratio of 3.02. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 8.66 and a beta of 1.30. The firm’s fifty day moving average price is $31.63 and its 200 day moving average price is $31.50. Methode Electronics has a 1-year low of $21.76 and a 1-year high of $41.70.
Methode Electronics (NYSE:MEI) last released its earnings results on Tuesday, June 30th. The electronics maker reported $0.79 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.03. Methode Electronics had a net margin of 12.05% and a return on equity of 15.62%. The company had revenue of $210.60 million during the quarter, compared to analysts’ expectations of $209.05 million. During the same quarter last year, the business earned $0.62 EPS. The business’s revenue was down 20.8% on a year-over-year basis.
A number of equities research analysts have weighed in on the company. TheStreet raised Methode Electronics from a “c” rating to a “b-” rating in a report on Tuesday, May 26th. ValuEngine cut Methode Electronics from a “sell” rating to a “strong sell” rating in a research report on Monday, May 18th. Zacks Investment Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, June 24th. Craig Hallum boosted their target price on Methode Electronics from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Finally, B. Riley cut shares of Methode Electronics from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $42.00 to $24.00 in a research note on Thursday, March 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $33.00.
Methode Electronics Company Profile
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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