Methode Electronics (NYSE:MEI) Share Price Passes Above 200-Day Moving Average – What’s Next?

Methode Electronics, Inc. (NYSE:MEI)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $7.15 and traded as high as $8.35. Methode Electronics shares last traded at $7.9540, with a volume of 500,968 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MEI shares. Zacks Research raised Methode Electronics to a “hold” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Methode Electronics in a report on Thursday, January 22nd. Finally, Robert W. Baird set a $8.50 price objective on shares of Methode Electronics in a research report on Wednesday, January 14th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.25.

Methode Electronics Stock Performance

The stock has a market cap of $281.65 million, a PE ratio of -4.47 and a beta of 1.07. The firm’s 50-day moving average is $7.16 and its 200 day moving average is $7.15. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 2.55.

Methode Electronics (NYSE:MEI) last announced its earnings results on Wednesday, December 3rd. The electronics maker reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.01. Methode Electronics had a negative net margin of 6.39% and a negative return on equity of 7.10%. The business had revenue of $246.90 million during the quarter, compared to analysts’ expectations of $237.69 million. As a group, research analysts anticipate that Methode Electronics, Inc. will post -0.4 EPS for the current year.

Methode Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Friday, January 16th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Friday, January 16th. Methode Electronics’s dividend payout ratio is -11.24%.

Hedge Funds Weigh In On Methode Electronics

Several institutional investors have recently bought and sold shares of MEI. Empowered Funds LLC lifted its stake in shares of Methode Electronics by 8.3% in the 1st quarter. Empowered Funds LLC now owns 127,268 shares of the electronics maker’s stock worth $812,000 after acquiring an additional 9,787 shares during the period. Strs Ohio acquired a new stake in Methode Electronics in the first quarter valued at about $133,000. Wealth Enhancement Advisory Services LLC purchased a new stake in Methode Electronics in the 2nd quarter valued at approximately $216,000. Janney Montgomery Scott LLC acquired a new position in Methode Electronics during the 2nd quarter worth approximately $441,000. Finally, CWM LLC lifted its holdings in shares of Methode Electronics by 100.8% in the 2nd quarter. CWM LLC now owns 43,031 shares of the electronics maker’s stock valued at $409,000 after buying an additional 21,603 shares during the period. 95.49% of the stock is owned by institutional investors and hedge funds.

About Methode Electronics

Methode Electronics, Inc is a Chicago-based global manufacturer of custom-engineered electronic and electromechanical components and assemblies. Founded in 1946, Methode specializes in providing solutions that integrate electrical connectors, sensors, switches, human-machine interface devices and power distribution modules. The company’s product portfolio addresses complex application requirements across a broad range of end markets, including automotive, industrial, energy, healthcare and data/telecommunications.

In its automotive segment, Methode develops advanced connector systems, circuit protection devices and thermal management solutions for internal combustion, hybrid and electric vehicles.