Methode Electronics Inc. (NYSE:MEI) – Stock analysts at B. Riley decreased their Q2 2019 earnings estimates for shares of Methode Electronics in a research report issued to clients and investors on Monday, December 3rd. B. Riley analyst C. Horn now forecasts that the electronics maker will post earnings of $0.69 per share for the quarter, down from their prior estimate of $0.72. B. Riley also issued estimates for Methode Electronics’ Q2 2020 earnings at $0.96 EPS, Q3 2020 earnings at $0.93 EPS, Q4 2020 earnings at $1.08 EPS and FY2020 earnings at $3.82 EPS.
A number of other equities analysts also recently issued reports on MEI. Zacks Investment Research upgraded shares of Methode Electronics from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a report on Wednesday. ValuEngine upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a report on Wednesday. Robert W. Baird upgraded shares of Methode Electronics from a “neutral” rating to an “outperform” rating in a report on Tuesday. Finally, TheStreet downgraded shares of Methode Electronics from a “b-” rating to a “c+” rating in a report on Tuesday, October 2nd.
Shares of MEI opened at $31.19 on Tuesday. The company has a quick ratio of 3.18, a current ratio of 3.83 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $1.12 billion, a PE ratio of 10.40 and a beta of 1.21. Methode Electronics has a 52-week low of $27.65 and a 52-week high of $46.25.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Systematic Financial Management LP grew its stake in Methode Electronics by 24.8% in the 2nd quarter. Systematic Financial Management LP now owns 270,354 shares of the electronics maker’s stock valued at $10,895,000 after acquiring an additional 53,775 shares during the last quarter. Paloma Partners Management Co acquired a new stake in Methode Electronics in the 2nd quarter valued at about $434,000. Swiss National Bank grew its stake in Methode Electronics by 9.6% in the 2nd quarter. Swiss National Bank now owns 66,500 shares of the electronics maker’s stock valued at $2,680,000 after acquiring an additional 5,800 shares during the last quarter. Macquarie Group Ltd. grew its stake in Methode Electronics by 31.8% in the 2nd quarter. Macquarie Group Ltd. now owns 85,400 shares of the electronics maker’s stock valued at $3,442,000 after acquiring an additional 20,600 shares during the last quarter. Finally, Heartland Advisors Inc. grew its stake in Methode Electronics by 7.9% in the 2nd quarter. Heartland Advisors Inc. now owns 355,771 shares of the electronics maker’s stock valued at $14,338,000 after acquiring an additional 25,968 shares during the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Isabelle C. Goossen sold 2,500 shares of the stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $39.32, for a total value of $98,300.00. Following the sale, the director now directly owns 40,450 shares of the company’s stock, valued at approximately $1,590,494. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 3.40% of the stock is currently owned by corporate insiders.
Methode Electronics Company Profile
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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