Robert W. Baird reiterated their buy rating on shares of Methode Electronics, Inc. (NYSE:MEI) in a research report sent to investors on Tuesday, October 17th. Robert W. Baird currently has a $46.00 target price on the electronics maker’s stock.
A number of other analysts have also recently commented on MEI. BidaskClub upgraded shares of Methode Electronics from a strong sell rating to a sell rating in a research note on Saturday, August 26th. B. Riley reaffirmed a buy rating and set a $49.00 target price on shares of Methode Electronics in a report on Wednesday, June 28th. FBR & Co reaffirmed an outperform rating and set a $49.00 target price on shares of Methode Electronics in a report on Tuesday, July 18th. Zacks Investment Research lowered shares of Methode Electronics from a hold rating to a sell rating in a report on Wednesday, August 23rd. Finally, ValuEngine lowered shares of Methode Electronics from a buy rating to a hold rating in a report on Thursday, August 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Methode Electronics has a consensus rating of Buy and an average target price of $48.50.
Shares of Methode Electronics (MEI) traded up $0.07 during trading on Tuesday, reaching $46.68. 73,477 shares of the company’s stock were exchanged, compared to its average volume of 203,449. The stock has a market cap of $1,715.35, a price-to-earnings ratio of 18.06, a price-to-earnings-growth ratio of 1.21 and a beta of 0.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.32 and a quick ratio of 3.81.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, August 31st. The electronics maker reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12. The company had revenue of $201.20 million for the quarter, compared to analysts’ expectations of $189.40 million. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. Methode Electronics’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.57 EPS. equities research analysts forecast that Methode Electronics will post 2.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were issued a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend was Thursday, October 12th. Methode Electronics’s payout ratio is 14.63%.
Several institutional investors have recently made changes to their positions in MEI. Acrospire Investment Management LLC boosted its stake in shares of Methode Electronics by 22.2% in the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 500 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Methode Electronics in the 2nd quarter valued at $122,000. Riverhead Capital Management LLC boosted its stake in shares of Methode Electronics by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after purchasing an additional 1,396 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Methode Electronics in the 2nd quarter valued at $132,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in shares of Methode Electronics in the 1st quarter valued at $135,000. 91.06% of the stock is owned by institutional investors.
Methode Electronics Company Profile
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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