Methode Electronics Inc. (NYSE:MEI) – Investment analysts at B. Riley decreased their Q4 2017 earnings per share estimates for shares of Methode Electronics in a research note issued to investors on Tuesday. B. Riley analyst J. Baker now expects that the brokerage will earn $0.70 per share for the quarter, down from their prior estimate of $0.79. B. Riley currently has a “Buy” rating and a $46.50 target price on the stock.
Methode Electronics (NYSE:MEI) last posted its earnings results on Thursday, September 1st. The company reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Methode Electronics had a net margin of 10.31% and a return on equity of 17.70%. The company had revenue of $191.90 million for the quarter, compared to analysts’ expectations of $203.06 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Methode Electronics’s revenue for the quarter was down 5.6% compared to the same quarter last year.
A number of other equities research analysts also recently commented on MEI. Robert W. Baird reissued an “outperform” rating and issued a $45.00 target price on shares of Methode Electronics in a report on Wednesday, August 31st. Zacks Investment Research downgraded Methode Electronics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 31st. Finally, Craig Hallum downgraded Methode Electronics from a “buy” rating to a “hold” rating and set a $37.00 price target for the company. in a research note on Friday, September 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. Methode Electronics currently has a consensus rating of “Hold” and an average price target of C$22.71.
Methode Electronics (NYSE:MEI) opened at 30.40 on Friday. The firm has a market cap of $1.12 billion, a PE ratio of 14.02 and a beta of 1.13. Methode Electronics has a 52-week low of $23.83 and a 52-week high of $37.25. The firm has a 50-day moving average of $34.11 and a 200-day moving average of $32.67.
Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can bought a new stake in Methode Electronics during the second quarter worth approximately $488,000. Reinhart Partners Inc. acquired a new stake in Methode Electronics during the second quarter valued at approximately $403,000. Independent Portfolio Consultants Inc. boosted its stake in Methode Electronics by 59.6% in the second quarter. Independent Portfolio Consultants Inc. now owns 17,510 shares of the company’s stock valued at $599,000 after buying an additional 6,540 shares during the period. Eqis Capital Management Inc. acquired a new stake in Methode Electronics during the second quarter valued at approximately $202,000. Finally, Capstone Asset Management Co. boosted its stake in Methode Electronics by 7.4% in the second quarter. Capstone Asset Management Co. now owns 13,883 shares of the company’s stock valued at $475,000 after buying an additional 960 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.
In related news, Director Paul G. Shelton sold 2,000 shares of Methode Electronics stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of C$36.99, for a total transaction of C$73,980.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Timothy Glandon sold 39,183 shares of Methode Electronics stock in a transaction dated Tuesday, September 27th. The stock was sold at an average price of C$35.02, for a total value of C$1,372,188.66. Following the sale, the vice president now owns 40,205 shares of the company’s stock, valued at approximately C$1,407,979.10. The disclosure for this sale can be found here. Corporate insiders own 5.80% of the company’s stock.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 14th were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend was Wednesday, October 12th. Methode Electronics’s dividend payout ratio is presently 16.67%.
Methode Electronics Company Profile