Methode Electronics, Inc. (NYSE:MEI) Given Average Rating of “Hold” by Analysts

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

A number of research analysts recently issued reports on MEI shares. Sidoti reissued a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research report on Friday. 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 report on Monday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a report on Tuesday, April 21st. Finally, Robert W. Baird boosted their price target on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research report on Friday.

Hedge Funds Weigh In On Methode Electronics

Several institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in Methode Electronics by 8.3% in the 1st quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock worth $812,000 after purchasing an additional 9,787 shares in the last quarter. Strs Ohio bought a new stake in Methode Electronics during the 1st quarter valued at about $133,000. JPMorgan Chase & Co. increased its stake in Methode Electronics by 10.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 191,757 shares of the electronics maker’s stock valued at $1,824,000 after purchasing an additional 17,418 shares in the last quarter. Franklin Resources Inc. purchased a new position in Methode Electronics in the second quarter worth about $234,000. Finally, XTX Topco Ltd purchased a new position in Methode Electronics in the second quarter worth about $107,000. 95.49% of the stock is currently owned by institutional investors.

Methode Electronics Stock Up 0.8%

MEI stock traded up $0.15 during midday trading on Monday, hitting $19.31. The stock had a trading volume of 217,413 shares, compared to its average volume of 667,657. The business has a 50-day moving average of $10.93 and a two-hundred day moving average of $8.47. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.37 and a quick ratio of 1.66. The firm has a market cap of $683.98 million, a price-to-earnings ratio of -19.11 and a beta of 1.58. Methode Electronics has a 52-week low of $4.88 and a 52-week high of $20.38.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million for the quarter, compared to analysts’ expectations of $238.46 million. Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. As a group, equities research analysts forecast that Methode Electronics will post -0.75 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Friday, July 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. Methode Electronics’s 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.