In last trading session, Methode Electronics, Inc (NYSE:MEI) saw 0.64 million shares changing hands with its beta currently measuring 0.76. Company’s recent per share price level of $12.15 trading at -$0.1 or -0.82% at ring of the bell on the day assigns it a market valuation of $433.22M. That closing price of MEI’s stock is at a discount of -92.67% from its 52-week high price of $23.41 and is indicating a premium of 29.71% from its 52-week low price of $8.54. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.51 million shares which gives us an average trading volume of 446.54K if we extend that period to 3-months.
For Methode Electronics, Inc (MEI), analysts’ consensus is at an average recommendation of Hold while assigning it a mean rating of 3.00. Splitting up the data highlights that, out of 3 analysts covering the stock, 1 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 2 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight.
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Methode Electronics, Inc (NYSE:MEI) trade information
Upright in the red during last session for losing -0.82%, in the last five days MEI remained trading in the red while hitting it’s week-highest on Monday, 12/16/24 when the stock touched $12.15 price level, adding 10.07% to its value on the day. Methode Electronics, Inc’s shares saw a change of -46.55% in year-to-date performance and have moved -7.04% in past 5-day. Methode Electronics, Inc (NYSE:MEI) showed a performance of 34.55% in past 30-days. Number of shares sold short was 1.63 million shares which calculate 4.69 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 13 to the stock, which implies a rise of 6.54% to its current value. Analysts have been projecting 13 as a low price target for the stock while placing it at a high target of 13. It follows that stock’s current price would drop -7.0% in reaching the projected high whereas dropping to the targeted low would mean a loss of -7.0% for stock’s current value.
Methode Electronics, Inc (MEI) estimates and forecasts
Statistics highlight that Methode Electronics, Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 20.54% of value to its shares in past 6 months, showing an annual growth rate of 6.98% while that of industry is 14.50. Apart from that, the company came raising its revenue forecast for fiscal year 2024.
In 2024, company’s earnings growth rate is likely to be around 90.15% while estimates for its earnings growth in next 5 years are of 10.00%.
MEI Dividends
Methode Electronics, Inc is more likely to be releasing its next quarterly report in January and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 4.61%, the share has a forward dividend of 0.56 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 1.97%.
Methode Electronics, Inc (NYSE:MEI)’s Major holders
Insiders are in possession of 5.97% of company’s total shares while institution are holding 97.14 percent of that, with stock having share float percentage of 103.31%. Investors also watch the number of corporate investors in a company very closely, which is 97.14% institutions for Methode Electronics, Inc that are currently holding shares of the company. FMR LLC is the top institutional holder at MEI for having 5.31 million shares of worth $54.94 million. And as of 2024-06-30, it was holding 15.0264 of the company’s outstanding shares.
The second largest institutional holder is VANGUARD GROUP INC, which was holding about 3.63 million shares on 2024-06-30. The number of shares represents firm’s hold over 10.2768 of outstanding shares, having a total worth of $37.58 million.
On the other hand, Fidelity Low-Priced Stock Fund and Vanguard Total Stock Market Index Fund are the top two Mutual Funds which own company’s shares. As of Aug 31, 2024 , the former fund manager was holding 2.07 shares of worth $25.14 million or 5.80% of the total outstanding shares. The later fund manager was in possession of 1.1 shares on Sep 30, 2024 , making its stake of worth around $13.36 million in the company or a holder of 3.08% of company’s stock.
