ValuEngine upgraded shares of Methode Electronics, Inc. (NYSE:MEI) from a hold rating to a buy rating in a research note released on Saturday, September 30th.

Several other equities research analysts also recently issued reports on the stock. BidaskClub upgraded shares of Methode Electronics from a strong sell rating to a sell rating in a research note on Saturday, August 26th. Zacks Investment Research upgraded shares of Methode Electronics from a sell rating to a hold rating in a research note on Tuesday, September 5th. FBR & Co reiterated a buy rating on shares of Methode Electronics in a research note on Thursday, August 31st. Robert W. Baird reiterated a buy rating and set a $47.00 price target on shares of Methode Electronics in a research note on Sunday, September 24th. Finally, B. Riley reiterated a buy rating and set a $49.00 price target on shares of Methode Electronics in a research note on Wednesday, June 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $48.33.

Methode Electronics (NYSE MEI) traded up 0.45% during midday trading on Friday, reaching $44.80. 201,175 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $41.06 and its 200-day moving average price is $41.09. The company has a market capitalization of $1.65 billion, a PE ratio of 18.21 and a beta of 0.76. Methode Electronics has a 1-year low of $29.85 and a 1-year high of $46.40.

Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.12. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. The firm had revenue of $201.20 million for the quarter, compared to analyst estimates of $189.40 million. During the same quarter last year, the firm earned $0.57 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Equities analysts expect that Methode Electronics will post $2.54 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.09 per share. The ex-dividend date of this dividend is Thursday, October 12th. This represents a $0.36 annualized dividend and a yield of 0.80%. Methode Electronics’s dividend payout ratio is currently 14.63%.

Several institutional investors have recently bought and sold shares of MEI. Acrospire Investment Management LLC grew its position in shares of Methode Electronics by 22.2% during the 2nd quarter. Acrospire Investment Management LLC now owns 2,751 shares of the electronics maker’s stock worth $113,000 after buying an additional 500 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Methode Electronics during the 2nd quarter worth about $122,000. Riverhead Capital Management LLC grew its position in shares of Methode Electronics by 87.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,996 shares of the electronics maker’s stock valued at $123,000 after purchasing an additional 1,396 shares during the period. O Shaughnessy Asset Management LLC grew its position in shares of Methode Electronics by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 2,847 shares of the electronics maker’s stock valued at $130,000 after purchasing an additional 90 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Methode Electronics in the 2nd quarter valued at approximately $132,000. Institutional investors own 89.82% of the company’s stock.

Methode Electronics Company Profile

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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