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

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) declared a quarterly dividend on Wednesday, July 9th, RTT News reports. Stockholders 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 dividend yield of 3.62%. The ex-dividend date is Monday, July 21st.

Methode Electronics has a dividend payout ratio of 70.0% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

Shares of Methode Electronics stock traded down $2.56 during midday trading on Thursday, reaching $7.73. The company had a trading volume of 1,615,846 shares, compared to its average volume of 424,557. The company has a current ratio of 2.84, a quick ratio of 1.75 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $275.88 million, a price-to-earnings ratio of -2.96 and a beta of 1.01. The stock has a fifty day simple moving average of $8.36 and a 200 day simple moving average of $8.83. Methode Electronics has a 1-year low of $5.08 and a 1-year high of $17.45.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly 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). The company had revenue of $257,100 billion during the quarter, compared to analyst estimates of $228.75 million. Methode Electronics had a negative net margin of 8.57% and a negative return on equity of 2.82%. During the same period in the prior year, the business earned ($0.23) EPS. As a group, equities research analysts forecast that Methode Electronics will post -0.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Robert W. Baird reduced their price objective on shares of Methode Electronics from $9.00 to $7.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th.

Hedge Funds Weigh In On Methode Electronics

An institutional investor recently raised its position in Methode Electronics stock. Empowered Funds LLC lifted its position in shares of Methode Electronics, Inc. (NYSE:MEI - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 127,268 shares of the electronics maker's stock after purchasing an additional 9,787 shares during the quarter. Empowered Funds LLC owned 0.36% of Methode Electronics worth $812,000 at the end of the most recent reporting period. 95.49% of the stock is owned by institutional investors.

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.