Methode Electronics (NYSE:MEI) Stock Price Down 8.2% – Should You Sell?

Methode Electronics, Inc. (NYSE:MEI)’s stock price was down 8.2% on Wednesday . The company traded as low as $16.33 and last traded at $15.9950. 156,498 shares were traded during trading, a decline of 77% from the average daily volume of 682,294 shares. The stock had previously closed at $17.42.

Analyst Upgrades and Downgrades

MEI has been the subject of several research reports. Zacks Research cut shares of Methode Electronics from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 30th. Sidoti restated a “neutral” rating and set a $17.00 target price on shares of Methode Electronics in a report on Friday, June 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Tuesday, April 21st. Barrington Research raised shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research report on Monday, June 29th. Finally, Robert W. Baird lifted their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Methode Electronics currently has an average rating of “Reduce” and an average price target of $19.33.

Methode Electronics Stock Performance

The company has a quick ratio of 1.66, a current ratio of 2.37 and a debt-to-equity ratio of 0.48. The stock has a 50 day simple moving average of $13.28 and a two-hundred day simple moving average of $9.41. The stock has a market capitalization of $546.06 million, a P/E ratio of -15.24 and a beta of 1.47.

Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.19). The company had revenue of $298.10 million for the quarter, compared to the consensus estimate of $238.46 million. Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%. On average, equities analysts forecast that Methode Electronics, Inc. will post -0.95 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

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 paid a $0.05 dividend. The ex-dividend date is Friday, July 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.3%. Methode Electronics’s dividend payout ratio (DPR) is currently -19.80%.

Institutional Investors Weigh In On Methode Electronics

A number of institutional investors and hedge funds have recently modified their holdings of MEI. Empowered Funds LLC grew its holdings in Methode Electronics by 8.3% during the first quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock worth $812,000 after purchasing an additional 9,787 shares during the period. Strs Ohio acquired a new position in Methode Electronics during the first quarter worth approximately $133,000. JPMorgan Chase & Co. raised its stake in Methode Electronics by 10.0% in the second quarter. JPMorgan Chase & Co. now owns 191,757 shares of the electronics maker’s stock valued at $1,824,000 after buying an additional 17,418 shares during the period. Franklin Resources Inc. bought a new stake in Methode Electronics in the second quarter valued at approximately $234,000. Finally, XTX Topco Ltd acquired a new stake in shares of Methode Electronics in the second quarter valued at approximately $107,000. 95.49% of the stock is owned by institutional investors.

Methode Electronics Company Profile

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.