Methode Electronics (NYSE:MEI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Methode Electronics (NYSE:MEI) from a buy rating to a hold rating in a research report sent to investors on Sunday morning.

Several other research firms also recently commented on MEI. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Zacks Research downgraded shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a research report on Tuesday, June 30th. Barrington Research upgraded shares of 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 reaffirmed a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a report on Friday, June 26th. Finally, Robert W. Baird increased their target price on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and a consensus price target of $19.33.

Methode Electronics Price Performance

Shares of NYSE:MEI opened at $15.12 on Friday. Methode Electronics has a 12 month low of $4.88 and a 12 month high of $20.38. The firm has a market capitalization of $536.48 million, a P/E ratio of -14.98 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66. The company’s fifty day moving average price is $14.36 and its 200 day moving average price is $10.15.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%. As a group, sell-side analysts predict that Methode Electronics will post -0.95 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were given a dividend of $0.05 per share. The ex-dividend date was Friday, July 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Methode Electronics’s dividend payout ratio is presently -19.80%.

Institutional Trading of Methode Electronics

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its holdings in Methode Electronics by 1,027.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 2,815 shares in the last quarter. State of Wyoming purchased a new stake in Methode Electronics in the 1st quarter valued at approximately $93,000. Mackenzie Financial Corp acquired a new position in Methode Electronics during the 3rd quarter worth approximately $103,000. XTX Topco Ltd acquired a new position in Methode Electronics during the 2nd quarter worth approximately $107,000. Finally, Inscription Capital LLC purchased a new position in shares of Methode Electronics during the 4th quarter worth approximately $112,000. Hedge funds and other institutional investors own 95.49% of the company’s stock.

About Methode Electronics

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.