Methode Electronics (MEI) Given Consensus Rating of “Hold” by Brokerages

Methode Electronics (NYSE:MEI) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $50.00.

A number of analysts have recently weighed in on MEI shares. Zacks Investment Research lowered Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, December 21st. Robert W. Baird reiterated an “outperform” rating and issued a $51.00 price objective (up from $48.00) on shares of Methode Electronics in a research report on Friday, March 2nd. Finally, TheStreet lowered Methode Electronics from a “b” rating to a “c+” rating in a research report on Friday, March 2nd.

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A number of hedge funds have recently made changes to their positions in the stock. First National Bank of Omaha boosted its holdings in Methode Electronics by 6.2% during the fourth quarter. First National Bank of Omaha now owns 75,065 shares of the electronics maker’s stock worth $2,804,000 after buying an additional 4,360 shares during the last quarter. Swiss National Bank boosted its holdings in Methode Electronics by 3.3% during the fourth quarter. Swiss National Bank now owns 59,600 shares of the electronics maker’s stock worth $2,390,000 after buying an additional 1,900 shares during the last quarter. BlackRock Inc. boosted its holdings in Methode Electronics by 2.9% during the fourth quarter. BlackRock Inc. now owns 4,570,332 shares of the electronics maker’s stock worth $183,270,000 after buying an additional 129,746 shares during the last quarter. Jump Trading LLC bought a new position in Methode Electronics during the fourth quarter worth about $247,000. Finally, Bessemer Group Inc. bought a new position in Methode Electronics during the fourth quarter worth about $1,343,000. Hedge funds and other institutional investors own 95.99% of the company’s stock.

Shares of NYSE:MEI traded up $0.55 during midday trading on Wednesday, reaching $40.55. The company’s stock had a trading volume of 59,078 shares, compared to its average volume of 217,674. Methode Electronics has a fifty-two week low of $36.05 and a fifty-two week high of $48.44. The firm has a market cap of $1,462.94, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.95 and a beta of 0.88. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.47 and a current ratio of 4.03.

Methode Electronics (NYSE:MEI) last announced its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.21. Methode Electronics had a return on equity of 17.84% and a net margin of 4.95%. The company had revenue of $228.00 million during the quarter, compared to analyst estimates of $219.90 million. During the same period last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 16.6% compared to the same quarter last year. analysts anticipate that Methode Electronics will post 2.8 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 13th will be given a $0.11 dividend. The ex-dividend date is Thursday, April 12th. This represents a $0.44 dividend on an annualized basis and a yield of 1.09%. Methode Electronics’s payout ratio is 17.25%.

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About Methode Electronics

Methode Electronics, Inc designs, manufactures, and markets component and subsystem devices worldwide. The company operates through four segments: Automotive, Interface, Power Products, and Other. The Automotive segment offers electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.

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