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

Methode Electronics, Inc. (NYSE:MEI) has been assigned a consensus recommendation of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $19.3333.

Several equities research analysts recently commented on MEI shares. Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price objective for the company in a report on Monday. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research report on Tuesday, April 21st. Robert W. Baird upped their target price on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Sidoti reiterated a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research note on Friday.

Methode Electronics Stock Up 0.8%

MEI stock traded up $0.15 during midday trading on Monday, hitting $19.31. The company’s stock had a trading volume of 217,413 shares, compared to its average volume of 667,657. The firm’s 50-day moving average is $10.93 and its 200-day moving average is $8.47. The company has a current ratio of 2.37, a quick ratio of 1.66 and a debt-to-equity ratio of 0.48. Methode Electronics has a 12 month low of $4.88 and a 12 month high of $20.38. The company has a market cap of $683.98 million, a PE ratio of -19.11 and a beta of 1.58.

Methode Electronics (NYSE:MEI) last posted its earnings results on Wednesday, June 24th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%.The business had revenue of $298.10 million during the quarter, compared to the consensus estimate of $238.46 million. On average, 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 announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, July 17th. Methode Electronics’s payout ratio is -19.80%.

Hedge Funds Weigh In On Methode Electronics

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

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.