Methode Electronics (NYSE:MEI) Stock Price Up 14.5% – What’s Next?

Methode Electronics, Inc. (NYSE:MEI)’s stock price was up 14.5% during trading on Wednesday . The stock traded as high as $16.75 and last traded at $17.2930. Approximately 345,156 shares changed hands during trading, a decline of 48% from the average session volume of 667,151 shares. The stock had previously closed at $15.10.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MEI shares. Zacks Research cut Methode Electronics from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Robert W. Baird raised their target price 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. Sidoti reaffirmed a “neutral” rating and set a $17.00 price target on shares of Methode Electronics in a research report on Friday, June 26th. Finally, Barrington Research upgraded Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 price target for the company in a report on Monday, June 29th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $19.33.

Methode Electronics Stock Performance

The stock has a market cap of $617.92 million, a PE ratio of -17.22 and a beta of 1.50. The stock has a fifty day simple moving average of $14.36 and a two-hundred day simple moving average of $10.15. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.37.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million during the quarter, compared to analyst estimates of $238.46 million. Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. Equities analysts anticipate 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 was paid on Friday, July 31st. Investors of record on Friday, July 17th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend was Friday, July 17th. Methode Electronics’s dividend payout ratio (DPR) is presently -19.80%.

Institutional Trading of Methode Electronics

Several large investors have recently modified their holdings of MEI. Empowered Funds LLC lifted its stake in shares of Methode Electronics by 8.3% in the first quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock worth $812,000 after acquiring an additional 9,787 shares in the last quarter. Strs Ohio acquired a new stake in Methode Electronics during the 1st quarter valued at approximately $133,000. JPMorgan Chase & Co. increased its holdings in Methode Electronics by 10.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 191,757 shares of the electronics maker’s stock worth $1,824,000 after purchasing an additional 17,418 shares during the last quarter. Franklin Resources Inc. acquired a new position in shares of Methode Electronics in the 2nd quarter valued at approximately $234,000. Finally, XTX Topco Ltd acquired a new position in shares of Methode Electronics in the 2nd quarter valued at approximately $107,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

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.