Methode Electronics Inc. (NYSE:MEI) has earned an average broker rating score of 0.00 () from the four analysts that cover the stock, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and three have assigned a strong buy recommendation to the company.
Brokers have set a 1-year consensus target price of $49.75 for the company and are forecasting that the company will post $0.64 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Methode Electronics an industry rank of 104 out of 265 based on the ratings given to its competitors.
A number of brokerages have recently commented on MEI. B. Riley reaffirmed a “buy” rating and set a $46.50 price objective on shares of Methode Electronics in a research report on Monday, December 12th. FBR & Co upped their price objective on shares of Methode Electronics from $42.00 to $50.00 and gave the company an “outperform” rating in a research report on Friday, December 9th. Finally, Zacks Investment Research raised shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Friday, December 9th.
Methode Electronics (NYSE:MEI) opened at 45.60 on Thursday. Methode Electronics has a 12 month low of $27.10 and a 12 month high of $46.40. The firm has a market capitalization of $1.68 billion, a P/E ratio of 18.52 and a beta of 0.94. The stock’s 50 day moving average price is $43.59 and its 200 day moving average price is $39.13.
Methode Electronics (NYSE:MEI) last announced its quarterly earnings data on Thursday, March 2nd. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.10. The business earned $195.60 million during the quarter, compared to analyst estimates of $195.23 million. Methode Electronics had a net margin of 10.76% and a return on equity of 18.22%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 earnings per share. On average, analysts forecast that Methode Electronics will post $2.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, April 14th will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a yield of 0.79%. The ex-dividend date is Tuesday, April 11th. Methode Electronics’s dividend payout ratio (DPR) is presently 15.79%.
A number of hedge funds and other institutional investors have recently bought and sold shares of MEI. BlackRock Fund Advisors raised its position in Methode Electronics by 7.9% in the third quarter. BlackRock Fund Advisors now owns 2,512,042 shares of the company’s stock valued at $87,846,000 after buying an additional 183,643 shares during the period. Dimensional Fund Advisors LP raised its position in Methode Electronics by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,049,446 shares of the company’s stock valued at $84,745,000 after buying an additional 56,150 shares during the period. Silvercrest Asset Management Group LLC raised its position in Methode Electronics by 1.4% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 1,198,088 shares of the company’s stock valued at $49,541,000 after buying an additional 16,094 shares during the period. State Street Corp raised its position in Methode Electronics by 9.4% in the fourth quarter. State Street Corp now owns 903,692 shares of the company’s stock valued at $37,365,000 after buying an additional 77,498 shares during the period. Finally, Norges Bank acquired a new position in Methode Electronics during the fourth quarter valued at about $19,518,000. 92.09% of the stock is owned by hedge funds and other institutional investors.
About Methode Electronics
Methode Electronics, Inc (Methode) is a manufacturer of component and subsystem devices. The Company designs, manufactures and markets devices employing electrical, radio remote control, electronic, wireless and sensing technologies. The Company operates through segments, including Automotive, Interface, Power Products and Other.
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Zacks: Methode Electronics Inc. (MEI) Receives Consensus Recommendation of “” from Analysts by: Steve Melvin published: