Methode Electronics, Inc. (NYSE:MEI) Receives $19.33 Average PT from Analysts

Methode Electronics, Inc. (NYSE:MEI) has been assigned an average rating of “Reduce” from the five brokerages that are currently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and one has issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.3333.

A number of equities research analysts recently weighed in on MEI shares. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Sidoti reiterated a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research note on Friday, June 26th. Zacks Research lowered Methode Electronics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a research note on Monday, June 29th. Finally, Wall Street Zen upgraded Methode Electronics from a “hold” rating to a “buy” rating in a report on Saturday.

Institutional Trading of Methode Electronics

Several institutional investors have recently made changes to their positions in MEI. Marquette Asset Management LLC bought a new position in shares of Methode Electronics during the second quarter valued at about $370,000. Empowered Funds LLC grew its position in Methode Electronics by 51.2% in the 1st quarter. Empowered Funds LLC now owns 632,346 shares of the electronics maker’s stock worth $3,491,000 after purchasing an additional 214,224 shares in the last quarter. Renaissance Technologies LLC grew its position in Methode Electronics by 46.3% in the 1st quarter. Renaissance Technologies LLC now owns 90,000 shares of the electronics maker’s stock worth $497,000 after purchasing an additional 28,500 shares in the last quarter. Sei Investments Co. increased its stake in Methode Electronics by 87.7% in the 1st quarter. Sei Investments Co. now owns 465,973 shares of the electronics maker’s stock valued at $2,572,000 after buying an additional 217,764 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Methode Electronics in the 1st quarter valued at about $93,000. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Stock Performance

NYSE MEI opened at $15.34 on Friday. The company has a fifty day simple moving average of $13.89 and a 200 day simple moving average of $9.79. Methode Electronics has a 12-month low of $4.88 and a 12-month high of $20.38. 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 company has a market cap of $544.11 million, a P/E ratio of -15.19 and a beta of 1.47.

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

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, July 17th. Methode Electronics’s dividend payout ratio is presently -19.80%.

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.