Methode Electronics, Inc. (NYSE:MEI – Get Free Report) has been assigned an average rating of “Hold” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $22.00.
Several analysts recently commented on the company. Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research note on Monday, June 29th. Sidoti reiterated a “neutral” rating and issued a $17.00 price objective on shares of Methode Electronics in a research report on Friday, June 26th. Robert W. Baird lifted their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. Wall Street Zen downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Finally, Craig Hallum initiated coverage on shares of Methode Electronics in a report on Tuesday, August 25th. They set a “buy” rating and a $30.00 price objective on the stock.
View Our Latest Stock Report on Methode Electronics
Methode Electronics Stock Down 0.4%
Methode Electronics (NYSE:MEI – Get Free Report) last released its quarterly earnings data on Wednesday, September 2nd. The electronics maker reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. Methode Electronics had a negative return on equity of 5.63% and a negative net margin of 3.52%. The business had revenue of $265.40 million during the quarter, compared to the consensus estimate of $238.31 million. Research analysts predict that Methode Electronics will post -0.81 EPS for the current year.
Methode Electronics Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Friday, October 16th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Methode Electronics’s dividend payout ratio is presently -19.23%.
Hedge Funds Weigh In On Methode Electronics
A number of large investors have recently added to or reduced their stakes in MEI. Sei Investments Co. grew its stake in shares of Methode Electronics by 87.7% during the 1st quarter. Sei Investments Co. now owns 465,973 shares of the electronics maker’s stock worth $2,572,000 after acquiring an additional 217,764 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Methode Electronics in the second quarter worth $5,233,000. Wellington Management Group LLP acquired a new position in Methode Electronics during the second quarter worth $1,658,000. Bank of America Corp DE acquired a new position in Methode Electronics during the second quarter worth $1,911,000. Finally, Ieq Capital LLC acquired a new position in Methode Electronics during the second quarter worth $2,330,000. Institutional investors own 95.49% of the company’s stock.
Methode Electronics Company Profile
Methode Electronics, Inc is a global designer and manufacturer of custom-engineered electrical and electronic products. The company develops solutions that connect, control, sense and illuminate systems for original equipment manufacturers and other industrial customers.
Its products include sensors, switches and other user-interface components; LED lighting systems; power distribution and management products; flexible circuits and interconnect technologies; and electronic and electromechanical assemblies.
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