Methode Electronics, Inc. (NYSE:MEI) to Issue Quarterly Dividend of $0.14

Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Thursday, September 12th, Wall Street Journal reports. Investors of record on Friday, October 18th will be given a dividend of 0.14 per share by the electronics maker on Friday, November 1st. This represents a $0.56 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date is Friday, October 18th.

Methode Electronics has increased its dividend payment by an average of 8.4% per year over the last three years. Methode Electronics has a dividend payout ratio of 81.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities analysts expect Methode Electronics to earn $0.43 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 130.2%.

Methode Electronics Stock Performance

NYSE:MEI traded up $0.09 during midday trading on Thursday, reaching $10.00. 286,259 shares of the company traded hands, compared to its average volume of 564,329. Methode Electronics has a twelve month low of $8.54 and a twelve month high of $26.02. The firm has a market capitalization of $353.90 million, a price-to-earnings ratio of -2.84 and a beta of 0.72. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.35 and a quick ratio of 1.50. The company has a fifty day moving average price of $11.18 and a 200 day moving average price of $12.01.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Thursday, September 5th. The electronics maker reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $267.66 million. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, analysts expect that Methode Electronics will post -0.51 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Robert W. Baird cut their target price on Methode Electronics from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Friday, September 6th. StockNews.com raised Methode Electronics from a “sell” rating to a “hold” rating in a research note on Friday, September 6th.

About Methode Electronics

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.