Methode Electronics (NYSE:MEI) declared a quarterly dividend on Friday, March 16th, Wall Street Journal reports. Shareholders of record on Friday, April 13th will be paid a dividend of 0.11 per share by the electronics maker on Friday, April 27th. This represents a $0.44 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, April 12th.
Methode Electronics has increased its dividend by an average of 1.9% annually over the last three years. Methode Electronics has a dividend payout ratio of 17.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Methode Electronics to earn $3.10 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 14.2%.
Shares of MEI stock traded down $0.60 during mid-day trading on Friday, hitting $38.45. The company’s stock had a trading volume of 271,154 shares, compared to its average volume of 187,488. Methode Electronics has a 52-week low of $36.05 and a 52-week high of $48.44. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.03 and a quick ratio of 3.47. The stock has a market capitalization of $1,416.88, a P/E ratio of 15.08, a P/E/G ratio of 0.92 and a beta of 0.88.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, March 1st. The electronics maker reported $0.87 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.21. Methode Electronics had a return on equity of 17.84% and a net margin of 4.95%. The company had revenue of $228.00 million during the quarter, compared to analyst estimates of $219.90 million. During the same quarter in the previous year, the company posted $0.63 earnings per share. Methode Electronics’s revenue was up 16.6% compared to the same quarter last year. analysts anticipate that Methode Electronics will post 2.8 earnings per share for the current year.
MEI has been the subject of several recent research reports. Zacks Investment Research raised Methode Electronics from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a report on Friday, February 23rd. Robert W. Baird reissued an “outperform” rating and set a $51.00 price target (up previously from $48.00) on shares of Methode Electronics in a report on Friday, March 2nd. Finally, TheStreet lowered Methode Electronics from a “b” rating to a “c+” rating in a report on Friday, March 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. Methode Electronics has a consensus rating of “Hold” and an average target price of $48.75.
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About Methode Electronics
Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.
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