FBR & Co restated their outperform rating on shares of Methode Electronics, Inc. (NYSE:MEI) in a report released on Tuesday morning. FBR & Co currently has a $49.00 price objective on the electronics maker’s stock.
MEI has been the topic of several other research reports. Robert W. Baird reissued an outperform rating and set a $47.00 price target (down previously from $51.00) on shares of Methode Electronics in a research report on Monday, June 19th. Zacks Investment Research cut shares of Methode Electronics from a hold rating to a sell rating in a research report on Saturday, June 24th. B. Riley reissued a buy rating and set a $49.00 price target on shares of Methode Electronics in a research report on Wednesday, June 28th. Finally, BidaskClub cut shares of Methode Electronics from a buy rating to a hold rating in a research report on Tuesday, June 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $46.00.
Shares of Methode Electronics (NYSE:MEI) traded up 0.61% during trading on Tuesday, hitting $41.15. 77,866 shares of the company’s stock were exchanged. The company has a 50-day moving average of $40.85 and a 200-day moving average of $42.05. Methode Electronics has a 12-month low of $29.85 and a 12-month high of $46.40. The company has a market cap of $1.51 billion, a P/E ratio of 16.59 and a beta of 0.78.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, June 22nd. The electronics maker reported $0.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.64 by $0.05. The firm had revenue of $219.70 million during the quarter, compared to analyst estimates of $214.39 million. Methode Electronics had a net margin of 11.38% and a return on equity of 18.81%. Methode Electronics’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.60 earnings per share. On average, equities analysts expect that Methode Electronics will post $2.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 28th. Stockholders of record on Friday, July 14th will be given a dividend of $0.09 per share. The ex-dividend date is Wednesday, July 12th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.88%. Methode Electronics’s dividend payout ratio (DPR) is presently 14.52%.
Institutional investors have recently made changes to their positions in the company. Legato Capital Management LLC raised its position in shares of Methode Electronics by 4,460.0% in the first quarter. Legato Capital Management LLC now owns 67,944 shares of the electronics maker’s stock worth $1,490,000 after buying an additional 66,454 shares during the period. Strs Ohio raised its position in Methode Electronics by 83.3% in the first quarter. Strs Ohio now owns 23,100 shares of the electronics maker’s stock worth $1,053,000 after buying an additional 10,500 shares during the period. Dubuque Bank & Trust Co. purchased a new position in Methode Electronics during the first quarter worth $202,000. Envestnet Asset Management Inc. raised its position in Methode Electronics by 8.3% in the first quarter. Envestnet Asset Management Inc. now owns 10,520 shares of the electronics maker’s stock worth $478,000 after buying an additional 803 shares during the period. Finally, Sawgrass Asset Management LLC purchased a new position in Methode Electronics during the first quarter worth $346,000. Institutional investors and hedge funds own 89.26% of the company’s stock.
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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