Methode Electronics - MEI Stock Forecast, Price & News

2 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Methode Electronics in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "hold" MEI shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in MEI, but not buy additional shares or sell existing shares.
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2 equities research analysts have issued 1-year price targets for Methode Electronics' shares. Their MEI share price forecasts range from $42.00 to $42.00. On average, they anticipate the company's share price to reach $42.00 in the next year. This suggests that the stock has a possible downside of 0.2%.
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Methode Electronics' stock was trading at $49.17 at the beginning of 2022. Since then, MEI stock has decreased by 14.4% and is now trading at $42.10.
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Methode Electronics saw a decline in short interest in the month of June. As of June 30th, there was short interest totaling 846,300 shares, a decline of 20.9% from the June 15th total of 1,070,000 shares. Based on an average daily trading volume, of 206,700 shares, the days-to-cover ratio is currently 4.1 days. Approximately 2.3% of the company's stock are short sold.
View Methode Electronics' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, September 1st 2022.
View our MEI earnings forecast.

Methode Electronics, Inc. (NYSE:MEI) released its quarterly earnings data on Thursday, June, 23rd. The electronics maker reported $0.43 EPS for the quarter, hitting analysts' consensus estimates of $0.43. The electronics maker had revenue of $288.70 million for the quarter, compared to the consensus estimate of $289.10 million. Methode Electronics had a trailing twelve-month return on equity of 11.15% and a net margin of 8.78%.

Methode Electronics announced a quarterly dividend on Thursday, June 16th. Investors of record on Friday, July 15th will be given a dividend of $0.14 per share on Friday, July 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date is Thursday, July 14th.
Read our dividend analysis for MEI.

Methode Electronics (NYSE:MEI) pays an annual dividend of $0.56 per share and currently has a dividend yield of 1.37%. The company does not yet have a strong track record of dividend growth. The dividend payout ratio is 20.82%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MEI will have a dividend payout ratio of 15.43% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for MEI.

Methode Electronics issued an update on its FY 2023 earnings guidance on Wednesday, July, 20th. The company provided earnings per share guidance of $2.70-$3.10 for the period, compared to the consensus estimate of $3.06. The company issued revenue guidance of $1.16 billion-$1.21 billion, compared to the consensus revenue estimate of $1.19 billion.

Based on aggregate information from My MarketBeat watchlists, some companies that other Methode Electronics investors own include Intel (INTC), Applied Materials (AMAT), Johnson & Johnson (JNJ), Micron Technology (MU), NIKE (NKE), QUALCOMM (QCOM), Skyworks Solutions (SWKS), Cisco Systems (CSCO), Pfizer (PFE) and AbbVie (ABBV).

Methode Electronics trades on the New York Stock Exchange (NYSE) under the ticker symbol "MEI."

Methode Electronics' stock is owned by a variety of retail and institutional investors. Top institutional shareholders include William Blair Investment Management LLC (2.74%), Polaris Capital Management LLC (1.75%), Loomis Sayles & Co. L P (0.95%), Principal Financial Group Inc. (0.65%), Wedge Capital Management L L P NC (0.44%) and Allspring Global Investments Holdings LLC (0.41%). Insiders that own company stock include Amit N Patel, Anil Shetty, Bruce K Crowther, Darren Dawson, Donald W Duda, Joseph Elias Khoury, Lawrence B Skatoff, Ronald LG Tsoumas and Timothy Glandon.
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Shares of MEI stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of MEI stock can currently be purchased for approximately $42.10.

Methode Electronics (NYSE:MEI) has a market capitalization of $1.61 billion and generates $1.16 billion in revenue each year. The electronics maker earns $102.20 million in net income (profit) each year or $2.69 on an earnings per share basis.

The company employs 7,000 workers across the globe.

Methode Electronics was founded in 1946.

Methode Electronics' mailing address is 8750 WEST BRYN MAWR AVENUE SUITE 1000, CHICAGO IL, 60631. The official website for the company is www.methode.com. The electronics maker can be reached via phone at (708) 867-6777, via email at ir@methode.com, or via fax at 708-867-6999.