Methode Electronics (NYSE:MEI – Free Report) had its price objective decreased by Robert W. Baird from $15.00 to $13.00 in a research report sent to investors on Friday morning, Benzinga reports. Robert W. Baird currently has a neutral rating on the electronics maker’s stock.
Methode Electronics Stock Performance
Shares of MEI opened at $9.66 on Friday. The company has a quick ratio of 1.50, a current ratio of 2.35 and a debt-to-equity ratio of 0.40. Methode Electronics has a 52-week low of $8.54 and a 52-week high of $26.02. The stock has a 50 day moving average price of $11.19 and a 200 day moving average price of $12.10. The company has a market capitalization of $341.19 million, a price-to-earnings ratio of -2.77 and a beta of 0.72.
Methode Electronics (NYSE:MEI – Get Free Report) last issued its earnings results on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.03). Methode Electronics had a negative net margin of 13.15% and a negative return on equity of 3.50%. The company had revenue of $258.50 million during the quarter, compared to analyst estimates of $267.66 million. During the same quarter in the previous year, the company posted $0.06 EPS. Research analysts predict that Methode Electronics will post -0.51 EPS for the current fiscal year.
Methode Electronics Dividend Announcement
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. lifted its stake in Methode Electronics by 150.0% in the second quarter. Point72 Asset Management L.P. now owns 19,000 shares of the electronics maker’s stock valued at $197,000 after buying an additional 11,400 shares during the last quarter. Algert Global LLC acquired a new position in shares of Methode Electronics in the 2nd quarter valued at $863,000. Millennium Management LLC raised its position in Methode Electronics by 98.7% in the 2nd quarter. Millennium Management LLC now owns 648,019 shares of the electronics maker’s stock valued at $6,707,000 after purchasing an additional 321,832 shares during the last quarter. AQR Capital Management LLC boosted its stake in Methode Electronics by 124.1% during the 2nd quarter. AQR Capital Management LLC now owns 225,177 shares of the electronics maker’s stock worth $2,331,000 after purchasing an additional 124,677 shares during the period. Finally, AXA S.A. purchased a new position in Methode Electronics during the 2nd quarter worth $871,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.
Methode Electronics Company Profile
Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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