Robert W. Baird reaffirmed their buy rating on shares of Methode Electronics, Inc. (NYSE:MEI) in a research note published on Tuesday, October 17th. The brokerage currently has a $46.00 target price on the electronics maker’s stock.
Other equities research analysts also recently issued research reports about the stock. B. Riley reaffirmed a buy rating and set a $49.00 price target on shares of Methode Electronics in a research note on Wednesday, June 28th. FBR & Co reaffirmed a buy rating on shares of Methode Electronics in a research note on Thursday, August 31st. ValuEngine raised shares of Methode Electronics from a hold rating to a buy rating in a research note on Saturday, September 30th. Zacks Investment Research raised shares of Methode Electronics from a sell rating to a hold rating in a report on Tuesday, September 5th. Finally, BidaskClub lowered shares of Methode Electronics from a buy rating to a hold rating in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $48.50.
Methode Electronics (MEI) traded up 0.810% during trading on Tuesday, hitting $46.675. The stock had a trading volume of 93,719 shares. The firm’s 50-day moving average price is $42.38 and its 200-day moving average price is $41.13. Methode Electronics has a 52-week low of $29.85 and a 52-week high of $46.75. The company has a market cap of $1.72 billion, a price-to-earnings ratio of 18.974 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, August 31st. The electronics maker reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. The business had revenue of $201.20 million for the quarter, compared to the consensus estimate of $189.40 million. During the same quarter last year, the firm posted $0.57 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. Analysts predict that Methode Electronics will post $2.58 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be given a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.78%. Methode Electronics’s dividend payout ratio (DPR) is 14.63%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in shares of Methode Electronics by 117,664.2% in the 1st quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after purchasing an additional 4,408,878 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Methode Electronics by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 3,194,454 shares of the electronics maker’s stock worth $131,612,000 after purchasing an additional 22,852 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Methode Electronics by 4.1% in the 2nd quarter. Renaissance Technologies LLC now owns 1,047,880 shares of the electronics maker’s stock worth $43,173,000 after purchasing an additional 41,580 shares in the last quarter. State Street Corp raised its holdings in shares of Methode Electronics by 1.1% in the 2nd quarter. State Street Corp now owns 916,563 shares of the electronics maker’s stock worth $37,763,000 after purchasing an additional 9,803 shares in the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Methode Electronics by 11.8% in the 2nd quarter. Northern Trust Corp now owns 534,065 shares of the electronics maker’s stock worth $22,004,000 after purchasing an additional 56,575 shares in the last quarter. Institutional investors and hedge funds own 89.59% of the company’s stock.
Methode Electronics Company Profile
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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