TheStreet cut shares of Methode Electronics (NYSE:MEI) from a b- rating to a c+ rating in a report published on Monday morning, TheStreetRatingsTable reports.
Several other equities analysts have also weighed in on the stock. ValuEngine raised shares of Methode Electronics from a strong sell rating to a sell rating in a research report on Tuesday, September 1st. Zacks Investment Research raised shares of Methode Electronics from a strong sell rating to a hold rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. Methode Electronics presently has an average rating of Hold and an average target price of $33.00.
NYSE MEI opened at $27.79 on Monday. The company has a current ratio of 3.74, a quick ratio of 2.96 and a debt-to-equity ratio of 0.41. The firm’s fifty day moving average price is $29.41 and its two-hundred day moving average price is $29.23. Methode Electronics has a 1 year low of $21.76 and a 1 year high of $41.70. The firm has a market capitalization of $1.04 billion, a P/E ratio of 9.11 and a beta of 1.24.
Methode Electronics (NYSE:MEI) last issued its quarterly earnings data on Thursday, September 3rd. The electronics maker reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.28. The company had revenue of $190.90 million for the quarter, compared to analyst estimates of $174.30 million. Methode Electronics had a net margin of 12.26% and a return on equity of 14.14%. The company’s revenue was down 29.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.75 earnings per share.
Large investors have recently added to or reduced their stakes in the stock. Neumeier Poma Investment Counsel LLC acquired a new stake in Methode Electronics during the first quarter worth about $17,555,000. Silvercrest Asset Management Group LLC grew its stake in Methode Electronics by 11.9% during the first quarter. Silvercrest Asset Management Group LLC now owns 1,883,027 shares of the electronics maker’s stock worth $49,769,000 after buying an additional 200,295 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Methode Electronics by 28.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 645,689 shares of the electronics maker’s stock worth $17,066,000 after buying an additional 142,545 shares in the last quarter. Prudential Financial Inc. grew its stake in Methode Electronics by 68.8% during the second quarter. Prudential Financial Inc. now owns 342,255 shares of the electronics maker’s stock worth $10,699,000 after buying an additional 139,533 shares in the last quarter. Finally, Clark Capital Management Group Inc. grew its stake in Methode Electronics by 95.3% during the second quarter. Clark Capital Management Group Inc. now owns 196,450 shares of the electronics maker’s stock worth $6,141,000 after buying an additional 95,878 shares in the last quarter. 93.69% of the stock is currently owned by institutional investors and hedge funds.
Methode Electronics Company Profile
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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