Methode Electronics, Inc. (NYSE:MEI) issued its quarterly earnings data on Thursday, August 31st. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.12, Morningstar.com reports. The business had revenue of $201.20 million for the quarter, compared to the consensus estimate of $189.40 million. Methode Electronics had a net margin of 11.16% and a return on equity of 18.11%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.57 EPS. Methode Electronics updated its FY18 guidance to $2.43-2.63 EPS.
Methode Electronics (MEI) opened at 39.50 on Friday. Methode Electronics has a 52 week low of $29.85 and a 52 week high of $46.40. The company has a market cap of $1.45 billion, a PE ratio of 16.06 and a beta of 0.76. The stock has a 50 day moving average of $38.77 and a 200 day moving average of $41.27.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Stockholders of record on Friday, October 13th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, October 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 14.63%.
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Several institutional investors have recently added to or reduced their stakes in MEI. BlackRock Inc. lifted its holdings in shares of Methode Electronics by 117,664.2% during the first quarter. BlackRock Inc. now owns 4,412,625 shares of the electronics maker’s stock worth $201,216,000 after purchasing an additional 4,408,878 shares during the period. Denver Investment Advisors LLC acquired a new stake in shares of Methode Electronics during the second quarter worth about $15,440,000. Opus Capital Group LLC acquired a new stake in shares of Methode Electronics during the first quarter worth about $7,306,000. Clark Capital Management Group Inc. acquired a new position in Methode Electronics in the first quarter valued at approximately $6,901,000. Finally, Vanguard Group Inc. lifted its holdings in Methode Electronics by 4.3% in the first quarter. Vanguard Group Inc. now owns 3,171,602 shares of the electronics maker’s stock valued at $144,624,000 after acquiring an additional 131,039 shares during the period. 90.21% of the stock is owned by hedge funds and other institutional investors.
MEI has been the topic of a number of recent research reports. BidaskClub downgraded shares of Methode Electronics from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. FBR & Co reaffirmed an “outperform” rating and issued a $49.00 target price on shares of Methode Electronics in a research report on Tuesday, July 18th. B. Riley reaffirmed a “buy” rating and issued a $49.00 target price on shares of Methode Electronics in a research report on Friday, June 23rd. ValuEngine cut shares of Methode Electronics from a “buy” rating to a “hold” rating in a research note on Thursday, August 24th. Finally, Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research note on Tuesday, September 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $48.25.
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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