Methode Electronics Receives “Buy” Rating from B. Riley (MEI)
December 12th, 2014 •
Methode Electronics logoMethode Electronics (NYSE:MEI)‘s stock had its “buy” rating reaffirmed by B. Riley in a research note issued on Friday. They currently have a $47.00 price target on the stock. B. Riley’s target price would indicate a potential upside of 31.84% from the stock’s previous close.
Separately, analysts at Zacks downgraded shares of Methode Electronics from an “outperform” rating to a “neutral” rating in a research note on Wednesday, November 5th. They now have a $43.80 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $45.20.
Methode Electronics (NYSE:MEI) traded down 7.38% during mid-day trading on Friday, hitting $33.02. 844,448 shares of the company’s stock traded hands. Methode Electronics has a 1-year low of $26.73 and a 1-year high of $43.00. The stock’s 50-day moving average is $39.18 and its 200-day moving average is $35.98. The company has a market cap of $1.260 billion and a price-to-earnings ratio of 13.21.
Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, December 11th. The company reported $0.66 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.12. The company had revenue of $229.70 million for the quarter, compared to the consensus estimate of $218.51 million. Analysts expect that Methode Electronics will post $2.17 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, January 30th. Investors of record on Friday, January 16th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Wednesday, January 14th.
Methode Electronics, Inc is a manufacturer of component and subsystem devices with manufacturing, designs and testing facilities in China, Egypt, Germany, India, Lebanon, Malta, Mexico, the Philippines, Singapore, Switzerland, the United Kingdom and the United States. http://www.americanbankingnews.com/2014/12/12/methode-electronics-receives-buy-rating-from-b-riley-mei/