Methode Electronics, Inc. to Issue Quarterly Dividend of $0.07 (NYSE:MEI)

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) announced a quarterly dividend on Wednesday, July 9th, RTT News reports. Investors of record on Monday, July 21st will be paid a dividend of 0.07 per share by the electronics maker on Friday, August 1st. This represents a $0.28 dividend on an annualized basis and a yield of 3.94%. The ex-dividend date of this dividend is Monday, July 21st.

Methode Electronics has a dividend payout ratio of 70.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Methode Electronics to earn $0.37 per share next year, which means the company may not be able to cover its $0.56 annual dividend with an expected future payout ratio of 151.4%.

Methode Electronics Stock Down 7.7%

Methode Electronics stock traded down $0.60 during midday trading on Friday, reaching $7.11. The stock had a trading volume of 519,969 shares, compared to its average volume of 423,349. Methode Electronics has a 12 month low of $5.08 and a 12 month high of $17.45. The company has a market capitalization of $253.58 million, a P/E ratio of -3.99 and a beta of 1.01. The company has a fifty day moving average price of $8.39 and a two-hundred day moving average price of $8.80. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.47.

Methode Electronics (NYSE:MEI - Get Free Report) last announced its earnings results on Wednesday, July 9th. The electronics maker reported ($0.77) earnings per share for the quarter, missing analysts' consensus estimates of $0.03 by ($0.80). Methode Electronics had a negative return on equity of 5.53% and a negative net margin of 5.97%. The business had revenue of $257,100 billion during the quarter, compared to analysts' expectations of $228.75 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, equities analysts expect that Methode Electronics will post -0.4 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Robert W. Baird reduced their price objective on Methode Electronics from $9.00 to $7.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th.

Institutional Investors Weigh In On Methode Electronics

A hedge fund recently raised its stake in Methode Electronics stock. Empowered Funds LLC lifted its position in Methode Electronics, Inc. (NYSE:MEI - Free Report) by 8.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 127,268 shares of the electronics maker's stock after purchasing an additional 9,787 shares during the quarter. Empowered Funds LLC owned about 0.36% of Methode Electronics worth $812,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 95.49% of the company's stock.

Methode Electronics Company Profile

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.