Methode Electronics, Inc. (MEI) – What Are Analysts Saying About This Stock?

Shares of Methode Electronics, Inc. (NYSE:MEI) have earned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.00.

MEI has been the topic of several recent research reports. Craig Hallum started coverage on shares of Methode Electronics in a research report on Tuesday, August 25th. They set a “buy” rating and a $30.00 price target 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. Zacks Research raised shares of Methode Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Thursday, October 15th.

Methode Electronics Stock Performance

Shares of Methode Electronics stock opened at $10.79 on Friday. The business’s 50 day moving average price is $14.45 and its 200 day moving average price is $11.77. The company has a market cap of $384.72 million, a price-to-earnings ratio of -10.38 and a beta of 1.60. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.65 and a current ratio of 2.41. Methode Electronics has a one year low of $4.88 and a one year high of $20.38.

Methode Electronics (NYSE:MEI) last issued its earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $238.31 million. On average, research analysts predict that Methode Electronics will post -0.81 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Friday, October 16th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, October 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. Methode Electronics’s dividend payout ratio (DPR) is currently -19.23%.

Institutional Trading of Methode Electronics

Several institutional investors have recently made changes to their positions in MEI. Russell Investments Group Ltd. increased its stake in Methode Electronics by 11.0% during the third quarter. Russell Investments Group Ltd. now owns 178,628 shares of the electronics maker’s stock worth $2,463,000 after acquiring an additional 17,664 shares during the last quarter. AIGH Capital Management LLC raised its position in Methode Electronics by 18.1% in the third quarter. AIGH Capital Management LLC now owns 1,982,420 shares of the electronics maker’s stock valued at $27,338,000 after purchasing an additional 304,011 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of Methode Electronics in the 3rd quarter valued at $29,000. Integrated Wealth Concepts LLC acquired a new position in shares of Methode Electronics in the 2nd quarter valued at $64,000. Finally, Allworth Financial LP lifted its stake in shares of Methode Electronics by 123.6% in the 2nd quarter. Allworth Financial LP now owns 2,115 shares of the electronics maker’s stock valued at $40,000 after purchasing an additional 1,169 shares during the last quarter. Hedge funds and other institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc (NYSE: MEI) is a global designer and manufacturer of engineered electrical and electronic products. The company develops solutions that enable sensing, control, illumination, power distribution, and human-machine interaction across a range of markets.

Its products include sensors and switches, user-interface controls, LED lighting systems, power-distribution and interconnect products, and other customized electronic and electromechanical components. Methode serves customers in the automotive, industrial, aerospace, medical, construction equipment, data communications, and consumer markets.

Founded in 1946 and headquartered in Chicago, Illinois, Methode Electronics serves customers internationally through operations and facilities in North America, Europe, and Asia.