Methode Electronics - MEI Stock Forecast, Price & News

3 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Methode Electronics in the last year. There are currently 2 hold ratings and 1 buy rating 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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3 Wall Street research analysts have issued 1-year price objectives for Methode Electronics' stock. Their MEI share price forecasts range from $49.00 to $52.00. On average, they expect the company's stock price to reach $50.50 in the next twelve months. This suggests a possible upside of 19.9% from the stock's current price.
View analysts price targets for MEI or view top-rated stocks among Wall Street analysts.

Methode Electronics' stock was trading at $44.37 at the beginning of the year. Since then, MEI shares have decreased by 5.1% and is now trading at $42.12.
View the best growth stocks for 2023 here.

Methode Electronics saw a increase in short interest in the month of March. As of March 15th, there was short interest totaling 939,500 shares, an increase of 56.2% from the February 28th total of 601,400 shares. Based on an average trading volume of 144,200 shares, the days-to-cover ratio is presently 6.5 days. Approximately 2.7% of the shares of the company are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, June 22nd 2023.
View our MEI earnings forecast.

Methode Electronics, Inc. (NYSE:MEI) announced its quarterly earnings data on Thursday, December, 2nd. The electronics maker reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.03. The electronics maker earned $295.50 million during the quarter. Methode Electronics had a trailing twelve-month return on equity of 9.29% and a net margin of 7.30%. During the same period last year, the company posted $1.17 earnings per share.

Methode Electronics declared a quarterly dividend on Thursday, March 16th. Shareholders of record on Friday, April 14th will be given a dividend of $0.14 per share on Friday, April 28th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Thursday, April 13th.
Read our dividend analysis for MEI.

ETFs with the largest weight of Methode Electronics (NYSE:MEI) stock in their portfolio include Invesco S&P SmallCap Information Technology ETF (PSCT), Small Cap US Equity Select ETF (RNSC), Invesco S&P SmallCap Low Volatility ETF (XSLV), Hartford Multifactor Small Cap ETF (ROSC), Distillate Small/Mid Cash Flow ETF (DSMC), iShares US Small Cap Value Factor ETF (SVAL), Royce Quant Small-Cap Quality Value ETF (SQLV) and Timothy Plan US Small Cap Core ETF (TPSC).

Methode Electronics (NYSE:MEI) pays an annual dividend of $0.56 per share and currently has a dividend yield of 1.35%. The dividend payout ratio is 24.35%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, MEI will have a dividend payout ratio of 21.96% 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 Thursday, March, 9th. The company provided earnings per share guidance of $2.50-$2.60 for the period, compared to the consensus earnings per share estimate of $2.78. The company issued revenue guidance of $1.16 billion-$1.18 billion, compared to the consensus revenue estimate of $1.20 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 number of retail and institutional investors. Top institutional shareholders include Dimensional Fund Advisors LP (6.20%), Earnest Partners LLC (5.71%), William Blair Investment Management LLC (2.84%), LSV Asset Management (2.68%), Geode Capital Management LLC (1.85%) and Systematic Financial Management LP (1.52%). Insiders that own company stock include Amit N Patel, Anil Shetty, Brian J Cadwallader, Darren Dawson, Donald W Duda, Joseph Elias Khoury, Lawrence B Skatoff, Ronald LG Tsoumas, Timothy Glandon and Walter J Aspatore.
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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 $42.12.

Methode Electronics (NYSE:MEI) has a market capitalization of $1.52 billion and generates $1.16 billion in revenue each year. The electronics maker earns $102.20 million in net income (profit) each year or $2.30 on an earnings per share basis.

The company employs 7,000 workers across the globe.

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.