Robert W. Baird reiterated their outperform rating on shares of Methode Electronics, Inc. (NYSE:MEI) in a research report report published on Monday, June 19th. They currently have a $47.00 price objective on the electronics maker’s stock, down from their previous price objective of $51.00.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded Methode Electronics from a buy rating to a hold rating in a research note on Tuesday, May 9th. B. Riley reissued a buy rating and set a $49.00 price objective on shares of Methode Electronics in a report on Saturday, March 11th. Finally, FBR & Co reaffirmed an outperform rating and issued a $55.00 price target (up from $50.00) on shares of Methode Electronics in a research note on Friday, March 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $47.20.
Methode Electronics (NYSE:MEI) traded up 2.14% during midday trading on Monday, hitting $40.55. 129,204 shares of the stock traded hands. Methode Electronics has a 1-year low of $29.85 and a 1-year high of $46.40. The company has a 50-day moving average of $40.70 and a 200-day moving average of $42.20. The stock has a market cap of $1.49 billion, a PE ratio of 16.35 and a beta of 0.78.
Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $219.70 million during the quarter, compared to the consensus estimate of $214.39 million. Methode Electronics had a return on equity of 18.81% and a net margin of 11.38%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. On average, equities analysts expect that Methode Electronics will post $2.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Wednesday, July 12th. Methode Electronics’s dividend payout ratio is currently 14.52%.
Several hedge funds and other institutional investors have recently bought and sold shares of MEI. O Shaughnessy Asset Management LLC boosted its stake in Methode Electronics by 132.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 2,757 shares of the electronics maker’s stock worth $114,000 after buying an additional 1,572 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in Methode Electronics during the first quarter worth approximately $135,000. Victory Capital Management Inc. boosted its stake in shares of Methode Electronics by 9.4% in the first quarter. Victory Capital Management Inc. now owns 3,029 shares of the electronics maker’s stock worth $138,000 after buying an additional 260 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Methode Electronics by 1.5% in the first quarter. State of Alaska Department of Revenue now owns 4,060 shares of the electronics maker’s stock worth $185,000 after buying an additional 60 shares during the last quarter. Finally, Dubuque Bank & Trust Co. bought a new stake in shares of Methode Electronics during the first quarter worth approximately $202,000. Hedge funds and other institutional investors own 89.53% of the company’s stock.
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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