Methode Electronics, Inc. (NYSE:MEI) Stock Rated "Hold" by Sell-Side Analysts

Key Points

• Methode Electronics has a consensus “Hold” rating from six analysts, with one sell, three hold and two buy ratings. The average 12-month price target is $22, compared with the stock’s reported price of $15.14.
• Institutional investors own approximately 95.49% of the company, while the stock has traded between $4.88 and $20.38 over the past year.
• Methode reported quarterly revenue of $265.4 million and an adjusted loss of $0.22 per share, exceeding analyst expectations. The company also declared a quarterly dividend of $0.05 per share, representing a 1.3% annualized yield.

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) has been given a consensus rating of "Hold" by the six research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $22.00.

MEI has been the topic of a number of recent analyst reports. Zacks Research raised shares of Methode Electronics from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of Methode Electronics in a research note on Friday, July 17th. Robert W. Baird increased their price target on shares of Methode Electronics from $8.50 to $16.00 and gave the stock a "neutral" rating in a report on Friday, June 26th. Wall Street Zen cut shares of Methode Electronics from a "buy" rating to a "hold" rating in a research report on Sunday, August 2nd. Finally, Craig Hallum started coverage on shares of Methode Electronics in a report on Tuesday, August 25th. They set a "buy" rating and a $30.00 price objective for the company.

Hedge Funds Weigh In On Methode Electronics

A number of large investors have recently modified their holdings of MEI. Integrated Wealth Concepts LLC bought a new position in shares of Methode Electronics during the 2nd quarter valued at $64,000. Allworth Financial LP increased its stake in Methode Electronics by 123.6% in the 2nd quarter. Allworth Financial LP now owns 2,115 shares of the electronics maker's stock worth $40,000 after purchasing an additional 1,169 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Methode Electronics in the 2nd quarter worth approximately $549,000. Wellington Management Group LLP bought a new stake in Methode Electronics in the second quarter valued at approximately $1,658,000. Finally, Empowered Funds LLC purchased a new stake in shares of Methode Electronics during the second quarter valued at approximately $11,882,000. 95.49% of the stock is owned by hedge funds and other institutional investors.

Methode Electronics Price Performance

Methode Electronics stock opened at $15.14 on Wednesday. Methode Electronics has a 52 week low of $4.88 and a 52 week high of $20.38. The business has a 50-day simple moving average of $15.25 and a 200 day simple moving average of $12.56. 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 stock has a market cap of $539.74 million, a price-to-earnings ratio of -14.56 and a beta of 1.57.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) earnings per share for the quarter, topping analysts' consensus estimates of ($0.27) by $0.05. The business had revenue of $265.40 million for the quarter, compared to analyst estimates of $238.31 million. Methode Electronics had a negative return on equity of 5.63% and a negative net margin of 3.52%. On average, research analysts forecast that Methode Electronics will post -0.81 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 16th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a $0.20 annualized dividend and a yield of 1.3%. Methode Electronics's payout ratio is -19.23%.

About Methode Electronics

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.

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