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

Methode Electronics, Inc. (NYSE:MEI) has received a consensus rating of “Hold” from the six research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.00.

Several analysts recently commented on the company. Zacks Research raised Methode Electronics from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Sidoti reissued a “neutral” rating and issued a $17.00 target price on shares of Methode Electronics in a research note on Friday, June 26th. Robert W. Baird increased their price target on Methode Electronics from $8.50 to $16.00 and gave the stock a “neutral” rating in a report on Friday, June 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a report on Friday, July 17th. Finally, Barrington Research raised Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target on the stock in a research report on Monday, June 29th.

Methode Electronics Stock Up 0.5%

Shares of NYSE MEI opened at $15.62 on Wednesday. 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 stock has a market cap of $556.81 million, a P/E ratio of -15.02 and a beta of 1.57. The firm has a 50 day moving average price of $15.37 and a 200 day moving average price of $12.78.

Methode Electronics (NYSE:MEI) last posted its earnings results 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. The company had revenue of $265.40 million for the quarter, compared to analyst estimates of $238.31 million. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. Analysts expect that Methode Electronics will post -0.81 EPS for the current year.

Methode Electronics Announces Dividend

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

Institutional Trading of Methode Electronics

A number of large investors have recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in shares of Methode Electronics by 123.6% in the second quarter. Allworth Financial LP now owns 2,115 shares of the electronics maker’s stock valued at $40,000 after buying an additional 1,169 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Methode Electronics during the second quarter worth $64,000. Legal & General Group Plc acquired a new stake in shares of Methode Electronics during the second quarter worth $65,000. Quantbot Technologies LP acquired a new stake in shares of Methode Electronics during the second quarter worth $212,000. Finally, GSA Capital Partners LLP acquired a new stake in shares of Methode Electronics during the second quarter worth $226,000. 95.49% of the stock is owned by institutional investors.

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.