Methode Electronics (NYSE:MEI) Earns Buy Rating from Analysts at Craig Hallum

by · The Markets Daily

Craig Hallum began coverage on shares of Methode Electronics (NYSE:MEI – Free Report) in a research report report published on Tuesday morning, MarketBeat reports. The brokerage issued a buy rating and a $30.00 price target on the electronics maker’s stock.

Several other research analysts also recently weighed in on MEI. Barrington Research upgraded shares of Methode Electronics from a “market perform” rating to an “outperform” rating and set a $25.00 target price for the company in a research note on Monday, June 29th. Zacks Research upgraded shares of Methode Electronics from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 4th. Wall Street Zen cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Sunday, August 2nd. Sidoti restated a “neutral” rating and set a $17.00 target price on shares of Methode Electronics in a research note on Friday, June 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Friday, July 17th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $22.00.

View Our Latest Stock Analysis on Methode Electronics

Methode Electronics Stock Performance

Shares of NYSE:MEI opened at $17.83 on Tuesday. The business’s 50-day simple moving average is $15.84 and its 200 day simple moving average is $11.14. The company has a market cap of $632.39 million, a P/E ratio of -17.65 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. Methode Electronics has a one year low of $4.88 and a one year high of $20.38.

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 (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.19). The firm had revenue of $298.10 million during the quarter, compared to analyst estimates of $238.46 million. Methode Electronics had a negative net margin of 3.50% and a negative return on equity of 5.59%. On average, sell-side analysts forecast that Methode Electronics will post -0.95 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 17th were given a dividend of $0.05 per share. The ex-dividend date was Friday, July 17th. This represents a $0.20 annualized dividend and a dividend yield of 1.1%. Methode Electronics’s dividend payout ratio is currently -19.80%.

Institutional Trading of Methode Electronics

A number of large investors have recently modified their holdings of MEI. EverSource Wealth Advisors LLC boosted its stake in Methode Electronics by 1,027.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 2,815 shares during the period. Allworth Financial LP acquired a new stake in shares of Methode Electronics in the second quarter valued at approximately $40,000. Legal & General Group Plc acquired a new stake in shares of Methode Electronics in the second quarter valued at approximately $65,000. State of Wyoming bought a new stake in shares of Methode Electronics during the first quarter valued at approximately $93,000. Finally, Mackenzie Financial Corp bought a new stake in shares of Methode Electronics during the third quarter valued at approximately $103,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

About Methode Electronics

(Get Free Report)

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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