Methode Electronics Inc. (MEI) Receives C$21.54 Average Target Price from Analysts
Shares of Methode Electronics Inc. (NYSE:MEI) have been given an average recommendation of “Hold” by the nine analysts that are presently covering the stock. Two research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$21.54.
Several equities research analysts have recently commented on MEI shares. Craig Hallum downgraded Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 target price for the company. in a report on Friday, September 2nd. Robert W. Baird reaffirmed an “outperform” rating and set a $45.00 target price on shares of Methode Electronics in a report on Wednesday, August 31st. Zacks Investment Research downgraded Methode Electronics from a “hold” rating to a “sell” rating in a report on Wednesday, August 31st. Finally, B. Riley reaffirmed a “buy” rating and set a $46.50 target price on shares of Methode Electronics in a report on Saturday, October 29th.
Shares of Methode Electronics (NYSE:MEI) opened at 34.85 on Tuesday. The stock has a market cap of $1.29 billion, a PE ratio of 16.07 and a beta of 0.98. Methode Electronics has a one year low of $23.83 and a one year high of $37.25. The stock’s 50 day moving average price is $33.58 and its 200-day moving average price is $32.90.
Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, September 1st. The company reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. Methode Electronics had a return on equity of 17.70% and a net margin of 10.31%. The business earned $191.90 million during the quarter, compared to the consensus estimate of $203.06 million. During the same period in the prior year, the business posted $0.60 earnings per share. Methode Electronics’s revenue was down 5.6% compared to the same quarter last year. On average, equities analysts predict that Methode Electronics will post $2.28 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, October 28th. Stockholders of record on Friday, October 14th were paid a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Wednesday, October 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 16.67%.
In other news, Director Isabelle C. Goossen sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of C$35.75, for a total transaction of C$107,250.00. Following the completion of the sale, the director now directly owns 41,000 shares of the company’s stock, valued at approximately C$1,465,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy Glandon sold 39,183 shares of the firm’s stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of C$35.02, for a total value of C$1,372,188.66. Following the sale, the vice president now directly owns 40,205 shares of the company’s stock, valued at C$1,407,979.10. The disclosure for this sale can be found here. Insiders own 5.80% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Acrospire Investment Management LLC increased its stake in Methode Electronics by 87.2% in the second quarter. Acrospire Investment Management LLC now owns 3,435 shares of the company’s stock worth $118,000 after buying an additional 1,600 shares during the period. Quantbot Technologies LP raised its position in shares of Methode Electronics by 140.4% in the second quarter. Quantbot Technologies LP now owns 3,895 shares of the company’s stock worth $133,000 after buying an additional 2,275 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of Methode Electronics during the second quarter worth approximately $138,000. BlackRock Inc. raised its position in shares of Methode Electronics by 76.9% in the second quarter. BlackRock Inc. now owns 4,419 shares of the company’s stock worth $152,000 after buying an additional 1,921 shares in the last quarter. Finally, PineBridge Investments L.P. raised its position in shares of Methode Electronics by 3.5% in the second quarter. PineBridge Investments L.P. now owns 4,681 shares of the company’s stock worth $160,000 after buying an additional 159 shares in the last quarter. 92.12% of the stock is owned by institutional investors.
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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