Methode Electronics (MEI) Lowered to “Sell” at ValuEngine

ValuEngine cut shares of Methode Electronics (NYSE:MEI) from a hold rating to a sell rating in a research note published on Wednesday morning.

MEI has been the topic of several other research reports. Zacks Investment Research lowered Methode Electronics from a buy rating to a hold rating in a research report on Saturday, February 24th. Robert W. Baird reissued an outperform rating and set a $51.00 target price (up previously 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. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $48.75.

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Shares of NYSE MEI traded up $0.70 during midday trading on Wednesday, hitting $40.25. 112,739 shares of the company’s stock were exchanged, compared to its average volume of 188,730. 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 has a twelve month low of $36.05 and a twelve month high of $48.44. The firm has a market capitalization of $1,457.42, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.82 and a beta of 0.86.

Methode Electronics (NYSE:MEI) last issued its earnings results on Thursday, March 1st. The electronics maker reported $0.87 earnings per share for the quarter, topping the 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 business had revenue of $228.00 million for the quarter, compared to analyst estimates of $219.90 million. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 16.6% on a year-over-year basis. sell-side analysts forecast that Methode Electronics will post 2.8 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 13th were given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Thursday, April 12th. Methode Electronics’s dividend payout ratio (DPR) is presently 17.25%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. increased its position in Methode Electronics by 73.0% during the fourth quarter. Advisor Group Inc. now owns 3,965 shares of the electronics maker’s stock worth $159,000 after buying an additional 1,673 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Methode Electronics during the third quarter worth approximately $201,000. Jump Trading LLC acquired a new position in Methode Electronics during the fourth quarter worth approximately $247,000. Verity Asset Management Inc. acquired a new position in Methode Electronics during the fourth quarter worth approximately $268,000. Finally, Bowling Portfolio Management LLC acquired a new position in Methode Electronics during the fourth quarter worth approximately $359,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

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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