Why Methode Electronics, Inc. (NYSE:MEI) Is In News?


Thomson Reuters, a distinguished brokerage company, has placed a 52-week price target of $42.13 on Methode Electronics, Inc. (NYSE:MEI) shares after it surveyed top market analysts. Calculating estimated earnings after taking into consideration different elements, it is predicted to come at $2.30 for the next fiscal and $N/A for underway quarter.

Valuation Estimates

Analysts take into account the price to earnings ratio to estimate the firm’s valuation. This ratio, which is also called as the P/E ratio evaluates the company on relative expense factor. The formula to calculate ratio is stock’s latest price/ per share earnings. The P/E ratio of Methode Electronics, Inc. (NYSE:MEI) stands at 15.69.

Analysts also work out Price/Earnings Growth ratio in an attempt to estimate the valuation of a firm. This ratio commonly known as the PEG ratio implies the stock’s valuation compared to earnings growth potential. Investors look to invest in the stocks with a lower PEG ratio. For Methode Electronics, Inc. Commo, the PEG ratio for coming 3-5 years is 1.06.

Technical Analysis

The technical analysis highlights that Methode Electronics, Inc. Commo current is trading $-1.05 points away or -2.94% from its 50-day moving average of $35.57. Further it is trading $3.61 or +11.68% away its 200-day moving average of $30.91.

The 52-week high of Methode Electronics, Inc. (NYSE:MEI) was $37.25 while lowest point recorded in 52-week was $23.83. It implies if stock price makes a movement of over $-2.73, it will record a new 52-week high. In the case of +44.86% drop, it will touch a new 52-week low.

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