Methode Electronics (NYSE:MEI) Price Target Cut to $9.00 by Analysts at Robert W. Baird

Methode Electronics (NYSE:MEI) had its target price lowered by Robert W. Baird from $14.00 to $9.00 in a report published on Friday morning,Benzinga reports. Robert W. Baird currently has a neutral rating on the electronics maker’s stock.

Separately, Sidoti raised Methode Electronics from a “neutral” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, February 25th.

Methode Electronics Price Performance

Shares of NYSE MEI opened at $6.57 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.75 and a quick ratio of 1.73. The stock has a fifty day moving average price of $11.23 and a 200 day moving average price of $10.93. Methode Electronics has a 1-year low of $6.26 and a 1-year high of $17.45. The company has a market cap of $234.09 million, a PE ratio of -2.59 and a beta of 0.76.

Methode Electronics (NYSE:MEI) last released its quarterly earnings data on Wednesday, March 5th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.17) by ($0.04). Methode Electronics had a negative return on equity of 3.26% and a negative net margin of 8.16%. The business had revenue of $239.90 million during the quarter, compared to analysts’ expectations of $264.01 million. During the same quarter in the previous year, the company posted ($0.33) EPS. Sell-side analysts forecast that Methode Electronics will post -0.4 EPS for the current year.

Methode Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 17th were paid a $0.14 dividend. The ex-dividend date was Friday, January 17th. This represents a $0.56 dividend on an annualized basis and a yield of 8.53%. Methode Electronics’s dividend payout ratio (DPR) is currently -22.13%.

Institutional Trading of Methode Electronics

Several large investors have recently made changes to their positions in the stock. Federated Hermes Inc. boosted its stake in Methode Electronics by 46.2% during the 4th quarter. Federated Hermes Inc. now owns 1,413,611 shares of the electronics maker’s stock valued at $16,666,000 after purchasing an additional 446,398 shares during the period. Kingsview Wealth Management LLC acquired a new position in Methode Electronics in the 4th quarter valued at approximately $3,678,000. Arrowstreet Capital Limited Partnership raised its holdings in Methode Electronics by 2,396.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 287,440 shares of the electronics maker’s stock valued at $3,389,000 after acquiring an additional 275,926 shares in the last quarter. Norges Bank acquired a new position in Methode Electronics in the 4th quarter valued at approximately $2,741,000. Finally, Algert Global LLC raised its holdings in Methode Electronics by 228.2% in the 3rd quarter. Algert Global LLC now owns 273,551 shares of the electronics maker’s stock valued at $3,272,000 after acquiring an additional 190,203 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.

About Methode Electronics

Methode Electronics, Inc designs, engineers, and produces mechatronic products worldwide. It operates through four segments: Automotive, Industrial, Interface, and Medical. The Automotive segment supplies electronic and electro-mechanical devices, and related products to automobile original equipment manufacturers directly or through their tiered suppliers.