Methode Electronics, Inc. (NYSE:MEI) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Methode Electronics, Inc. (NYSE:MEI) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are presently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $22.00.

A number of equities research analysts recently issued reports on MEI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Thursday, October 15th. Zacks Research raised shares of Methode Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Wall Street Zen downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. Finally, Craig Hallum began coverage on shares of Methode Electronics in a research report on Tuesday, August 25th. They set a “buy” rating and a $30.00 target price on the stock.

Methode Electronics Stock Down 5.0%

Shares of MEI opened at $14.66 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.41 and a quick ratio of 1.65. The stock has a market capitalization of $522.63 million, a price-to-earnings ratio of -14.10 and a beta of 1.57. Methode Electronics has a 1 year low of $4.88 and a 1 year high of $20.38. The business’s 50 day simple moving average is $14.74 and its 200-day simple moving average is $11.63.

Methode Electronics (NYSE:MEI) last posted its earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.05. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. The firm had revenue of $265.40 million during the quarter, compared to analyst estimates of $238.31 million. As a group, equities analysts expect that Methode Electronics will post -0.81 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were given a $0.05 dividend. The ex-dividend date was Friday, October 16th. This represents a $0.20 annualized dividend and a yield of 1.4%. Methode Electronics’s dividend payout ratio (DPR) is currently -19.23%.

Institutional Investors Weigh In On Methode Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEI. BlackRock Inc. bought a new stake in shares of Methode Electronics in the 2nd quarter valued at approximately $65,727,000. AIGH Capital Management LLC purchased a new position in shares of Methode Electronics in the 2nd quarter worth approximately $31,839,000. Empowered Funds LLC bought a new position in shares of Methode Electronics during the 2nd quarter valued at approximately $11,882,000. Bank of New York Mellon Corp bought a new position in shares of Methode Electronics during the 2nd quarter valued at approximately $5,233,000. Finally, Deutsche Bank AG purchased a new stake in Methode Electronics during the 2nd quarter valued at $4,982,000. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

Methode Electronics Company Profile

Methode Electronics, Inc (NYSE: MEI) is a global designer and manufacturer of engineered electrical and electronic products. The company develops solutions that enable sensing, control, illumination, power distribution, and human-machine interaction across a range of markets.

Its products include sensors and switches, user-interface controls, LED lighting systems, power-distribution and interconnect products, and other customized electronic and electromechanical components. Methode serves customers in the automotive, industrial, aerospace, medical, construction equipment, data communications, and consumer markets.

Founded in 1946 and headquartered in Chicago, Illinois, Methode Electronics serves customers internationally through operations and facilities in North America, Europe, and Asia.