Methode Electronics, Inc. (NYSE:MEI) Receives $19.33 Average Price Target from Brokerages

Shares of Methode Electronics, Inc. (NYSE:MEI) have earned an average rating of “Hold” from the five ratings firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $19.3333.

A number of equities analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Sidoti reissued a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a report on Friday, June 26th. Robert W. Baird raised their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Zacks Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th.

Institutional Trading of Methode Electronics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MEI. California State Teachers Retirement System lifted its position in Methode Electronics by 391.0% during the 2nd quarter. California State Teachers Retirement System now owns 8,878 shares of the electronics maker’s stock valued at $168,000 after purchasing an additional 7,070 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in shares of Methode Electronics in the 2nd quarter valued at about $549,000. Wellington Management Group LLP acquired a new stake in shares of Methode Electronics during the 2nd quarter worth approximately $1,658,000. Empowered Funds LLC acquired a new stake in shares of Methode Electronics during the 2nd quarter worth approximately $11,882,000. Finally, Bank of America Corp DE bought a new stake in shares of Methode Electronics during the second quarter worth approximately $1,911,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Stock Performance

Methode Electronics stock opened at $14.04 on Tuesday. The stock has a 50-day simple moving average of $15.57 and a 200 day simple moving average of $10.97. The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. Methode Electronics has a 12-month low of $4.88 and a 12-month high of $20.38. The stock has a market capitalization of $497.82 million, a price-to-earnings ratio of -13.90 and a beta of 1.50.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates 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 company had revenue of $298.10 million for the quarter, compared to the consensus estimate of $238.46 million. On average, research analysts anticipate that Methode Electronics will post -0.95 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics’s dividend payout ratio is -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.