Methode Electronics, Inc (NYSE:MEI)’s traded shares stood at 0.48 million during the last session, with the company’s beta value hitting 0.80. At the close of trading, the stock’s price was $12.23, to imply an increase of 2.09% or $0.25 in intraday trading. The MEI share’s 52-week high remains $23.41, putting it -91.41% down since that peak but still an impressive 30.17% since price per share fell to its 52-week low of $8.54. The company has a valuation of $436.08M, with an average of 0.35 million shares in intraday trading volume over the past 10 days and average of 425.62K shares over the past 3 months.
Analysts have given a consensus recommendation of Hold for Methode Electronics, Inc (MEI), translating to a mean rating of 3.00. Of 3 analyst(s) looking at the stock, 1 analyst(s) give MEI a Sell rating. 0 of those analysts rate the stock as Overweight while 2 advise Hold as 0 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at -0.1.
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Methode Electronics, Inc (NYSE:MEI) trade information
After registering a 2.09% upside in the last session, Methode Electronics, Inc (MEI) has traded red over the past five days. The 5-day price performance for the stock is -0.16%, and 13.98% over 30 days. With these gigs, the year-to-date price performance is -46.19%. Short interest in Methode Electronics, Inc (NYSE:MEI) saw shorts transact 1.63 million shares and set a 4.69 days time to cover.
The extremes give us $13 and $13 for target low and target high price respectively. As such, MEI has been trading -6.3% off suggested target high and -6.3% from its likely low.
Methode Electronics, Inc (MEI) estimates and forecasts
Looking at statistics comparing Methode Electronics, Inc share performance against respective industry, we note that the company has underperformed competitors. Methode Electronics, Inc (MEI) shares are 18.16% up over the last 6 months, with its year-to-date growth rate lower than industry average at 6.98% against 14.50%. The rating firms project that company’s revenue will shrink -1.11% compared to the previous financial year.
Revenue forecast for the current quarter as set by 4 analysts is 262.6M. Meanwhile, for the current quarter, a total of 3 analyst(s) estimate revenue growth to 292.27M.Earnings reports from the last fiscal year show that sales brought in 259.5M and 277.3M respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 1.19% before jumping 5.40% in the following quarter.
MEI Dividends
Methode Electronics, Inc has its next earnings report out in January. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Methode Electronics, Inc has a forward dividend ratio of 0.56, with the share yield ticking at 4.58% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 1.97%.
Methode Electronics, Inc (NYSE:MEI)’s Major holders
Methode Electronics, Inc insiders hold 5.97% of total outstanding shares, with institutional holders owning 97.14% of the shares at 103.31% float percentage. In total, 97.14% institutions holds shares in the company, led by FMR LLC. As of 2024-06-30, the company held over 5.31 million shares (or 15.0264% of shares), all amounting to roughly $54.94 million.
The next major institution holding the largest number of shares is VANGUARD GROUP INC with 3.63 million shares, or about 10.2768% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $37.58 million.
