Methode Electronics, Inc. (NYSE:MEI) Given Consensus Rating of “Hold” by Analysts

Shares of Methode Electronics, Inc. (NYSE:MEI) have received an average rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.3333.

MEI has been the topic of a number of research analyst reports. Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a report on Monday, June 29th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Zacks Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Sidoti reiterated a “neutral” rating and set a $17.00 target price on shares of Methode Electronics in a research report on Friday, June 26th. Finally, Wall Street Zen cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd.

Institutional Trading of Methode Electronics

Large investors have recently made changes to their positions in the company. Allworth Financial LP bought a new stake in Methode Electronics in the 2nd quarter valued at about $40,000. Strs Ohio boosted its holdings in Methode Electronics by 10.0% in the fourth quarter. Strs Ohio now owns 26,300 shares of the electronics maker’s stock worth $175,000 after acquiring an additional 2,400 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 2,815 shares in the last quarter. Legal & General Group Plc acquired a new stake in Methode Electronics in the second quarter valued at approximately $65,000. Finally, Mercer Global Advisors Inc. ADV grew its stake in Methode Electronics by 21.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker’s stock valued at $145,000 after acquiring an additional 3,778 shares during the period. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

MEI stock opened at $18.00 on Tuesday. The firm has a market cap of $638.46 million, a PE ratio of -17.82 and a beta of 1.50. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $15.25 and a 200-day moving average price of $10.74. Methode Electronics has a 1-year low of $4.88 and a 1-year high of $20.38.

Methode Electronics (NYSE:MEI) last announced its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. The business had revenue of $298.10 million for the quarter, compared to the consensus estimate of $238.46 million. As a group, equities research analysts expect that Methode Electronics will post -0.95 earnings per share for the current year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were issued a dividend of $0.05 per share. The ex-dividend date was Friday, July 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Methode Electronics’s dividend payout ratio is currently -19.80%.

Methode Electronics Company Profile

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.