Methode Electronics, Inc. (NYSE:MEI) Stock Has Consensus Target Price of $22.00 According to Analysts

Methode Electronics, Inc. (NYSE:MEI) has been given a consensus rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $22.00.

MEI has been the topic of a number of research analyst reports. Zacks Research upgraded Methode Electronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price on the stock in a research note on Monday, June 29th. Sidoti restated a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a report on Friday, June 26th. Finally, Craig Hallum started coverage on shares of Methode Electronics in a research report on Tuesday, August 25th. They set a “buy” rating and a $30.00 price objective on the stock.

Methode Electronics Stock Up 2.4%

Shares of NYSE:MEI opened at $15.62 on Wednesday. The firm has a 50 day simple moving average of $15.37 and a 200 day simple moving average of $12.72. Methode Electronics has a 52 week low of $4.88 and a 52 week high of $20.38. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.65 and a current ratio of 2.41. The company has a market cap of $556.89 million, a PE ratio of -15.02 and a beta of 1.57.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings data on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.05. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. The firm had revenue of $265.40 million for the quarter, compared to analysts’ expectations of $238.31 million. As a group, research analysts expect that Methode Electronics will post -0.81 earnings per share for the current year.

Methode Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 16th. Methode Electronics’s payout ratio is currently -19.23%.

Institutional Trading of Methode Electronics

Large investors have recently made changes to their positions in the stock. Sei Investments Co. increased its stake in shares of Methode Electronics by 87.7% in the 1st quarter. Sei Investments Co. now owns 465,973 shares of the electronics maker’s stock valued at $2,572,000 after buying an additional 217,764 shares during the period. Bank of New York Mellon Corp bought a new position in Methode Electronics in the second quarter valued at about $5,233,000. Wellington Management Group LLP bought a new position in Methode Electronics in the second quarter valued at about $1,658,000. Ieq Capital LLC acquired a new stake in Methode Electronics in the second quarter worth about $2,330,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Methode Electronics in the second quarter worth about $549,000. Institutional investors own 95.49% of the company’s stock.

Methode Electronics Company Profile

Methode Electronics, Inc is a global designer and manufacturer of custom-engineered electrical and electronic products. The company develops solutions that connect, control, sense and illuminate systems for original equipment manufacturers and other industrial customers.

Its products include sensors, switches and other user-interface components; LED lighting systems; power distribution and management products; flexible circuits and interconnect technologies; and electronic and electromechanical assemblies.