Methode Electronics (MEI) Upgraded at ValuEngine

ValuEngine upgraded shares of Methode Electronics (NYSE:MEI) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.

Other equities research analysts have also issued reports about the stock. Zacks Investment Research raised shares of Methode Electronics from a hold rating to a buy rating and set a $46.00 price objective on the stock in a research note on Saturday, March 10th. TheStreet lowered shares of Methode Electronics from a b rating to a c+ rating in a research note on Friday, March 2nd. Finally, Robert W. Baird reaffirmed an outperform rating and issued a $51.00 price objective (up from $48.00) on shares of Methode Electronics in a research note on Friday, March 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $49.00.

MEI opened at $42.45 on Thursday. Methode Electronics has a fifty-two week low of $36.05 and a fifty-two week high of $48.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.47 and a current ratio of 4.03. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.88 and a beta of 0.86.

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

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 13th were paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Thursday, April 12th. Methode Electronics’s dividend payout ratio is currently 17.25%.

Several large investors have recently bought and sold shares of MEI. Bowling Portfolio Management LLC bought a new stake in shares of Methode Electronics in the 4th quarter valued at $359,000. James Investment Research Inc. bought a new stake in shares of Methode Electronics in the 4th quarter valued at $1,488,000. Bessemer Group Inc. bought a new stake in shares of Methode Electronics in the 4th quarter valued at $1,343,000. Wedge Capital Management L L P NC boosted its stake in shares of Methode Electronics by 3.4% in the 4th quarter. Wedge Capital Management L L P NC now owns 450,174 shares of the electronics maker’s stock valued at $18,052,000 after purchasing an additional 14,925 shares during the last quarter. Finally, LSV Asset Management boosted its stake in shares of Methode Electronics by 10.8% in the 4th quarter. LSV Asset Management now owns 175,200 shares of the electronics maker’s stock valued at $7,025,000 after purchasing an additional 17,100 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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