Methode Electronics, Inc. (NYSE:MEI) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts rate Methode Electronics “Hold” overall: one analyst recommends selling, three recommend holding, and one recommends buying. The average 12-month price target is $19.33, with targets ranging from $16 to $25.
• Institutional ownership is high at 95.49%: several investment firms increased their positions or initiated new stakes, including AIGH Capital Management’s approximately $31.8 million investment.
• The stock opened at $18 after gaining 5%: shares have risen substantially from a 52-week low of $4.88, although the company reported a quarterly EPS loss of $0.30 versus the expected loss of $0.11. Methode also maintains a $0.05 quarterly dividend, yielding about 1.1% annually.

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) has been given a consensus recommendation of "Hold" by the five ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $19.3333.

Several analysts have recently weighed in on the company. Barrington Research upgraded Methode Electronics from a "market perform" rating to an "outperform" rating and set a $25.00 price target on the stock in a report on Monday, June 29th. Robert W. Baird raised their price objective on shares of Methode Electronics from $8.50 to $16.00 and gave the company a "neutral" rating in a report on Friday, June 26th. Sidoti reissued a "neutral" rating and set a $17.00 target price on shares of Methode Electronics in a report on Friday, June 26th. Wall Street Zen downgraded shares of Methode Electronics from a "buy" rating to a "hold" rating in a research note on Sunday, August 2nd. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Methode Electronics in a report on Friday, July 17th.

Institutional Investors Weigh In On Methode Electronics

A number of institutional investors have recently made changes to their positions in the stock. Sei Investments Co. lifted its stake in shares of Methode Electronics by 87.7% in the first quarter. Sei Investments Co. now owns 465,973 shares of the electronics maker's stock worth $2,572,000 after acquiring an additional 217,764 shares during the period. Empowered Funds LLC increased its position in Methode Electronics by 51.2% during the 1st quarter. Empowered Funds LLC now owns 632,346 shares of the electronics maker's stock valued at $3,491,000 after purchasing an additional 214,224 shares during the period. 4D Advisors LLC bought a new position in Methode Electronics during the 4th quarter worth approximately $3,320,000. Penn Capital Management Company LLC raised its holdings in Methode Electronics by 66.9% during the 4th quarter. Penn Capital Management Company LLC now owns 296,267 shares of the electronics maker's stock worth $1,967,000 after purchasing an additional 118,749 shares during the last quarter. Finally, AIGH Capital Management LLC acquired a new position in shares of Methode Electronics in the 2nd quarter worth approximately $31,839,000. Institutional investors own 95.49% of the company's stock.

Methode Electronics Stock Up 5.0%

Shares of MEI opened at $18.00 on Tuesday. Methode Electronics has a 52 week low of $4.88 and a 52 week high of $20.38. The stock has a market capitalization of $638.46 million, a price-to-earnings ratio of -17.82 and a beta of 1.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.66 and a current ratio of 2.37. The stock has a fifty day moving average of $15.25 and a 200-day moving average of $10.74.

Methode Electronics (NYSE:MEI - Get Free Report) last issued its quarterly earnings data on Wednesday, June 24th. The electronics maker reported ($0.30) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.19). Methode Electronics had a negative return on equity of 5.59% and a negative net margin of 3.50%.The firm had revenue of $298.10 million for the quarter, compared to the consensus estimate of $238.46 million. As a group, sell-side analysts anticipate that Methode Electronics will post -0.95 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Friday, July 17th. This represents a $0.20 annualized dividend and a yield of 1.1%. Methode Electronics's payout ratio is presently -19.80%.

About Methode Electronics

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.

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