Zacks Investment Research Downgrades Methode Electronics, Inc. (NYSE:MEI) to Hold

Zacks Investment Research downgraded shares of Methode Electronics, Inc. (NYSE:MEI) from a buy rating to a hold rating in a research note released on Wednesday, November 1st.

According to Zacks, “Methode Electronics, Inc. is a global manufacturer of electronic components and subsystems. Methode designs, manufactures and markets devices employing electrical, electronic, wireless, sensing and optical technologies. Methode’s components are found in the primary end-markets of the automotive, appliance, communications, aerospace, rail and other transportation industries, and the consumer and industrial equipment markets. “

MEI has been the topic of a number of other reports. BidaskClub raised Methode Electronics from a strong sell rating to a sell rating in a research note on Saturday, August 26th. FBR & Co reiterated a buy rating on shares of Methode Electronics in a research report on Thursday, August 31st. Robert W. Baird restated a buy rating and issued a $47.00 target price on shares of Methode Electronics in a research report on Sunday, September 24th. Finally, ValuEngine upgraded Methode Electronics from a hold rating to a buy rating in a research report on Saturday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of C$49.50.

Methode Electronics (NYSE MEI) opened at C$46.50 on Wednesday. The stock has a market capitalization of $1,711.67, a PE ratio of 18.02, a PEG ratio of 1.20 and a beta of 0.80. Methode Electronics has a 12 month low of C$34.00 and a 12 month high of C$47.40. The company has a quick ratio of 3.81, a current ratio of 4.32 and a debt-to-equity ratio of 0.08.

Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, August 31st. The company reported C$0.60 EPS for the quarter, topping the consensus estimate of C$0.48 by C$0.12. Methode Electronics had a return on equity of 18.11% and a net margin of 11.16%. The firm had revenue of C$201.20 million for the quarter, compared to analyst estimates of C$189.40 million. During the same period last year, the company earned $0.57 earnings per share. Methode Electronics’s revenue for the quarter was up 4.8% compared to the same quarter last year. research analysts anticipate that Methode Electronics will post 2.58 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, October 13th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, October 12th. This represents a $0.36 annualized dividend and a dividend yield of 0.77%. Methode Electronics’s dividend payout ratio is currently 14.63%.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its stake in Methode Electronics by 117,664.2% during the 1st quarter. BlackRock Inc. now owns 4,412,625 shares of the company’s stock valued at $201,216,000 after acquiring an additional 4,408,878 shares during the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Methode Electronics in the 3rd quarter worth approximately $18,433,000. Denver Investment Advisors LLC acquired a new stake in shares of Methode Electronics in the 2nd quarter worth approximately $15,440,000. Vanguard Group Inc. grew its holdings in shares of Methode Electronics by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 3,171,602 shares of the company’s stock worth $144,624,000 after acquiring an additional 131,039 shares during the period. Finally, New Amsterdam Partners LLC NY acquired a new stake in shares of Methode Electronics in the 2nd quarter worth approximately $5,065,000. 90.75% of the stock is owned by institutional investors and hedge funds.

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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