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

Shares of Methode Electronics, Inc. (NYSE:MEI) have earned a consensus rating of “Reduce” from the five ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and one has given a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $19.3333.

MEI has been the subject of several recent analyst reports. Sidoti reiterated a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a report on Friday, June 26th. Wall Street Zen upgraded shares of Methode Electronics from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Robert W. Baird raised their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Barrington Research upgraded shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective on the stock in a research report on Monday, June 29th.

Methode Electronics Trading Up 6.2%

Shares of NYSE MEI opened at $13.72 on Friday. 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 company has a market cap of $486.54 million, a price-to-earnings ratio of -13.58 and a beta of 1.47. The business has a fifty day simple moving average of $14.18 and a 200-day simple moving average of $9.99.

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

Methode Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, July 17th. Methode Electronics’s dividend payout ratio (DPR) is -19.80%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Methode Electronics by 1,027.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 2,815 shares during the period. State of Wyoming purchased a new position in Methode Electronics during the 1st quarter valued at about $93,000. Mackenzie Financial Corp acquired a new position in shares of Methode Electronics in the 3rd quarter valued at about $103,000. XTX Topco Ltd acquired a new position in shares of Methode Electronics in the 2nd quarter valued at about $107,000. Finally, Inscription Capital LLC purchased a new stake in shares of Methode Electronics in the fourth quarter worth approximately $112,000. 95.49% of the stock is owned by institutional investors and hedge funds.

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.