Methode Electronics Inc. (NYSE:MEI) Announces Quarterly Dividend of $0.11

Methode Electronics Inc. (NYSE:MEI) announced a quarterly dividend on Thursday, September 12th, Zacks reports. Shareholders of record on Friday, October 11th will be given a dividend of 0.11 per share by the electronics maker on Friday, October 25th. This represents a $0.44 annualized dividend and a yield of 1.38%. The ex-dividend date is Thursday, October 10th.

Methode Electronics has increased its dividend by an average of 6.9% per year over the last three years. Methode Electronics has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Methode Electronics to earn $3.76 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 11.7%.

NYSE MEI opened at $31.82 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 1.88. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.75 and a beta of 1.48. The company’s fifty day moving average is $32.44 and its two-hundred day moving average is $29.18. Methode Electronics has a 52-week low of $20.99 and a 52-week high of $37.42.



Methode Electronics (NYSE:MEI) last posted its quarterly earnings results on Thursday, August 29th. The electronics maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $270.20 million for the quarter, compared to analyst estimates of $268.15 million. Methode Electronics had a net margin of 9.19% and a return on equity of 16.39%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. As a group, sell-side analysts expect that Methode Electronics will post 3.35 earnings per share for the current fiscal year.

Several analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Methode Electronics from a “sell” rating to a “hold” rating in a research report on Thursday, September 5th. TheStreet upgraded shares of Methode Electronics from a “c+” rating to a “b” rating in a research report on Wednesday, September 11th. ValuEngine upgraded shares of Methode Electronics from a “strong sell” rating to a “sell” rating in a research report on Monday, August 26th. Finally, B. Riley set a $42.00 target price on shares of Methode Electronics and gave the company a “buy” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $40.25.

In other Methode Electronics news, Director Bruce K. Crowther bought 900 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The shares were acquired at an average cost of $31.58 per share, for a total transaction of $28,422.00. Following the transaction, the director now owns 3,900 shares in the company, valued at $123,162. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.40% of the stock is currently owned by insiders.

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.

Read More: Are we seeing the beginning of a new bubble?

Dividend History for Methode Electronics (NYSE:MEI)

Receive News & Ratings for Methode Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Methode Electronics and related companies with MarketBeat.com's FREE daily email newsletter.