Methode Electronics, Inc. (NYSE:MEI) Plans Quarterly Dividend of $0.05

Methode Electronics, Inc. (NYSE:MEI) announced a quarterly dividend on Wednesday, September 16th. Investors of record on Friday, October 16th will be paid a dividend of 0.05 per share by the electronics maker on Friday, October 30th. This represents a c) annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, October 16th.

Methode Electronics has decreased its dividend payment by an average of 0.1%annually over the last three years. Methode Electronics has a dividend payout ratio of 25.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Methode Electronics to earn ($0.16) per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of -125.0%.

Methode Electronics Stock Up 0.6%

Shares of Methode Electronics stock opened at $13.24 on Thursday. Methode Electronics has a 52-week low of $4.88 and a 52-week high of $20.38. The company has a 50 day moving average of $15.65 and a 200 day moving average of $11.79. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $472.15 million, a P/E ratio of -12.73 and a beta of 1.54.

Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.27) by $0.05. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. The company had revenue of $265.40 million during the quarter, compared to analysts’ expectations of $238.31 million. As a group, research analysts forecast that Methode Electronics will post -0.81 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently commented on MEI. Barrington Research upgraded 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 note on Monday, June 29th. Sidoti reaffirmed a “neutral” rating and set a $17.00 price objective on shares of Methode Electronics in a research report on Friday, June 26th. Robert W. Baird increased their price objective on Methode Electronics from $8.50 to $16.00 and gave the company a “neutral” rating in a report on Friday, June 26th. Craig Hallum began coverage on Methode Electronics in a research report on Tuesday, August 25th. They set a “buy” rating and a $30.00 target price on the stock. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Methode Electronics in a research note on Friday, July 17th. Two equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.

Methode Electronics Company Profile

Methode Electronics, Inc (NYSE: MEI) is a global designer and manufacturer of custom-engineered products and solutions for automotive, industrial, aerospace, commercial and other specialized markets. The company develops technologies that help customers manage electrical power, transmit signals, sense operating conditions and control equipment.

Its product portfolio includes sensors and sensor-based systems, user-interface and control products, LED lighting and display solutions, power distribution and electrical components, connectors, and other electromechanical assemblies.