Shares of Methode Electronics Inc. (NYSE:MEI) have received a consensus recommendation of “Hold” from the six analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $40.25.
A number of analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating and set a $33.00 target price for the company in a research note on Thursday, March 7th. Craig Hallum upgraded shares of Methode Electronics from a “hold” rating to a “buy” rating and raised their target price for the stock from $25.00 to $42.00 in a research note on Friday, March 8th.
In related news, CAO Amit N. Patel bought 1,021 shares of the business’s stock in a transaction dated Tuesday, March 26th. The stock was bought at an average price of $27.54 per share, for a total transaction of $28,118.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.40% of the company’s stock.
A number of institutional investors have recently modified their holdings of MEI. Janus Henderson Group PLC acquired a new stake in Methode Electronics in the 3rd quarter worth about $439,000. BlackRock Inc. raised its stake in Methode Electronics by 4.2% in the 3rd quarter. BlackRock Inc. now owns 5,282,696 shares of the electronics maker’s stock worth $191,234,000 after purchasing an additional 213,899 shares in the last quarter. United Services Automobile Association raised its stake in Methode Electronics by 217.0% in the 3rd quarter. United Services Automobile Association now owns 17,924 shares of the electronics maker’s stock worth $649,000 after purchasing an additional 12,270 shares in the last quarter. Man Group plc raised its stake in Methode Electronics by 19.3% in the 3rd quarter. Man Group plc now owns 28,528 shares of the electronics maker’s stock worth $1,032,000 after purchasing an additional 4,610 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its stake in Methode Electronics by 60.3% in the 3rd quarter. MetLife Investment Advisors LLC now owns 24,602 shares of the electronics maker’s stock worth $891,000 after purchasing an additional 9,251 shares in the last quarter. Institutional investors and hedge funds own 97.34% of the company’s stock.
Shares of MEI stock opened at $29.54 on Tuesday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 9.85 and a beta of 1.45. The company has a quick ratio of 1.83, a current ratio of 2.53 and a debt-to-equity ratio of 0.43. Methode Electronics has a one year low of $20.99 and a one year high of $45.45.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings results on Thursday, March 7th. The electronics maker reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.23. The firm had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $259.29 million. Methode Electronics had a net margin of 10.76% and a return on equity of 18.64%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 earnings per share. As a group, equities research analysts predict that Methode Electronics will post 2.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 12th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, April 11th. Methode Electronics’s dividend payout ratio is presently 14.67%.
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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