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

Methode Electronics, Inc. (NYSE:MEI) has been assigned a consensus recommendation of “Reduce” from the five research firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $19.3333.

Several research analysts have commented on the company. Wall Street Zen downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Sunday, July 12th. Sidoti reissued a “neutral” rating and issued a $17.00 price target on shares of Methode Electronics in a research note on Friday, June 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Robert W. Baird lifted their price objective on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a research note on Friday, June 26th. Finally, Zacks Research cut Methode Electronics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th.

Institutional Investors Weigh In On Methode Electronics

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Methode Electronics by 1,027.4% during the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock worth $29,000 after buying an additional 2,815 shares during the period. State of Wyoming acquired a new position in Methode Electronics in the first quarter valued at $93,000. Mackenzie Financial Corp acquired a new position in Methode Electronics in the third quarter valued at $103,000. XTX Topco Ltd bought a new stake in Methode Electronics during the second quarter valued at $107,000. Finally, Inscription Capital LLC bought a new stake in Methode Electronics during the fourth quarter valued at $112,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Price Performance

MEI stock opened at $16.06 on Friday. The company has a fifty day moving average price of $13.79 and a 200-day moving average price of $9.73. The company has a market capitalization of $569.61 million, a P/E ratio of -15.90 and a beta of 1.47. 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 0.48, a quick ratio of 1.66 and a current ratio of 2.37.

Methode Electronics (NYSE:MEI) last issued its quarterly 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). The business had revenue of $298.10 million for the quarter, compared to analyst estimates of $238.46 million. Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%. As a group, equities analysts expect that Methode Electronics will post -0.95 EPS for the current year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, July 17th. This represents a $0.20 annualized dividend and a yield of 1.2%. Methode Electronics’s dividend payout ratio (DPR) is presently -19.80%.

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.