Methode Electronics, Inc. (MEI) to Issue Quarterly Dividend of $0.09
Methode Electronics, Inc. (NYSE:MEI) declared a quarterly dividend on Friday, September 15th, Wall Street Journal reports. Investors of record on Friday, October 13th will be given a dividend of 0.09 per share by the electronics maker on Friday, October 27th. This represents a $0.36 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 12th.
Methode Electronics has increased its dividend payment by an average of 19.7% per year over the last three years. Methode Electronics has a payout ratio of 14.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Methode Electronics to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 12.9%.
Methode Electronics (NYSE MEI) opened at 39.50 on Friday. Methode Electronics has a 52-week low of $29.85 and a 52-week high of $46.40. The company has a 50-day moving average of $38.77 and a 200 day moving average of $41.27. The company has a market cap of $1.45 billion, a PE ratio of 16.06 and a beta of 0.76.
Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, August 31st. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.12. The business had revenue of $201.20 million for the quarter, compared to analyst estimates of $189.40 million. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.57 EPS. Equities research analysts predict that Methode Electronics will post $2.53 EPS for the current year.
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MEI has been the subject of several research reports. Robert W. Baird reissued an “outperform” rating and issued a $47.00 price objective (down previously from $51.00) on shares of Methode Electronics in a research note on Monday, June 19th. BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. B. Riley reissued a “buy” rating and issued a $49.00 price objective on shares of Methode Electronics in a research note on Friday, June 23rd. Zacks Investment Research downgraded shares of Methode Electronics from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Finally, FBR & Co reissued an “outperform” rating and issued a $49.00 price objective on shares of Methode Electronics in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $48.25.
About Methode Electronics
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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