Methode Electronics, Inc (NYSE:MEI) price on Friday, January 17, fall -3.26% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $11.86.
A look at the stock’s price movement, the close in the last trading session was $12.26, moving within a range at $11.71 and $12.26. The beta value (5-Year monthly) was 0.756. Turning to its 52-week performance, $22.20 and $8.54 were the 52-week high and 52-week low respectively. Overall, MEI moved -7.78% over the past month.
Methode Electronics, Inc’s market cap currently stands at around $422.89 million, with investors looking forward to this quarter’s earnings report slated for in February. The company has a Forward Dividend ratio of 0.56, with its dividend yield at 4.72%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 262.6M for the company’s revenue for the quarter, with a low and high estimate of 259.5M and 266M respectively. The average forecast suggests up to a 1.19% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 1.1B, representing a -1.11% decline on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that MEI is a 50% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
3 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 0 recommend MEI as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 1 say it is a Sell. As such, the average rating for the stock is Hold which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
MEI’s current price about -0.23% and 4.32% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 50.74, while 7-day volatility ratio is 5.50% and 5.64% in the 30-day chart. Further, Methode Electronics, Inc (MEI) has a beta value of 0.76, and an average true range (ATR) of 0.71. Analysts have given the company’s stock an average 52-week price target of $13, forecast between a low of $13 and high of $13. Looking at the price targets, the low is -9.61% off current price level while to achieve the yearly target high, price needs to move -9.61%. Nonetheless, investors will most likely welcome a -9.61% jump to $13 which is the analysts’ median price.
If we refocus on Methode Electronics, Inc (NYSE:MEI), historical trading data shows that trading volumes averaged 0.47 over the past 10 days and 434.29K over the past 3 months. The company’s latest data on shares outstanding shows there are 35.27 million shares.
The 7.15% of Methode Electronics, Inc’s shares are in the hands of company insiders while institutional holders own 93.68% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 1.63 million on 2024-11-15, giving us a short ratio of 4.69. The data shows that as of 2024-11-15 short interest in Methode Electronics, Inc (MEI) stood at 655.0000000000001 of shares outstanding, with shares short rising to 1.34 million registered in 2024-10-15. Current price change has pushed the stock 0.59% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MEI stock continues to rise going into the next quarter.
