FY2023 EPS Estimates for Methode Electronics, Inc. Decreased by Barrington Research (NYSE:MEI)

Methode Electronics, Inc. (NYSE:MEI – Get Rating) – Analysts at Barrington Research reduced their FY2023 EPS estimates for shares of Methode Electronics in a research note issued to investors on Monday, March 13th. Barrington Research analyst G. Prestopino now expects that the electronics maker will earn $2.50 per share for the year, down from their previous forecast of $2.70. The consensus estimate for Methode Electronics’ current full-year earnings is $2.55 per share. Barrington Research also issued estimates for Methode Electronics’ Q4 2023 earnings at $0.63 EPS, Q1 2024 earnings at $0.54 EPS, Q2 2024 earnings at $0.69 EPS, Q3 2024 earnings at $0.62 EPS and Q4 2024 earnings at $0.68 EPS.

Several other analysts have also issued reports on MEI. Robert W. Baird lowered their price target on shares of Methode Electronics from $52.00 to $49.00 in a research report on Monday. Jefferies Financial Group initiated coverage on shares of Methode Electronics in a research note on Tuesday, November 22nd. They set a “buy” rating and a $52.00 price objective for the company.

Methode Electronics Trading Up 1.7 %

NYSE:MEI opened at $42.05 on Tuesday. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 18.27 and a beta of 1.14. The firm has a fifty day simple moving average of $47.62 and a two-hundred day simple moving average of $43.75. Methode Electronics has a 12 month low of $33.91 and a 12 month high of $51.38. The company has a current ratio of 3.51, a quick ratio of 2.60 and a debt-to-equity ratio of 0.21.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GHP Investment Advisors Inc. increased its holdings in shares of Methode Electronics by 57.4% during the fourth quarter. GHP Investment Advisors Inc. now owns 51,055 shares of the electronics maker’s stock valued at $2,265,000 after acquiring an additional 18,624 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Methode Electronics during the 4th quarter valued at approximately $53,000. State of Tennessee Treasury Department lifted its position in shares of Methode Electronics by 8.0% during the 4th quarter. State of Tennessee Treasury Department now owns 23,206 shares of the electronics maker’s stock valued at $1,030,000 after buying an additional 1,726 shares in the last quarter. Squarepoint Ops LLC lifted its holdings in Methode Electronics by 372.1% in the 4th quarter. Squarepoint Ops LLC now owns 27,664 shares of the electronics maker’s stock valued at $1,227,000 after purchasing an additional 21,804 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Methode Electronics by 2.0% in the 4th quarter. Legal & General Group Plc now owns 107,265 shares of the electronics maker’s stock valued at $4,759,000 after purchasing an additional 2,054 shares in the last quarter. 95.93% of the stock is currently owned by institutional investors.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 27th. Shareholders of record on Friday, January 13th were given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date was Thursday, January 12th. Methode Electronics’s dividend payout ratio (DPR) is 24.35%.

Methode Electronics Company Profile

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Methode Electronics, Inc engages in the manufacture of component and subsystem devices. It operates through the following segments: Automotive, Interface, Industrial, and Medical. The Automotive segment supplies electronic and electromechanical devices, and related products to automobile original equipment manufacturers.