Methode Electronics (NYSE:MEI) Shares Cross 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 $7.79 and traded as high as $13.53. Methode Electronics shares last traded at $13.2350, with a volume of 1,204,375 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research note on Tuesday, April 21st. Two investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Methode Electronics presently has a consensus rating of “Reduce” and an average price target of $8.50.

Methode Electronics Stock Performance

The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.55 and a current ratio of 2.41. The stock’s 50-day moving average is $8.73 and its 200-day moving average is $7.83.

Methode Electronics (NYSE:MEI) last released its earnings results on Thursday, March 5th. The electronics maker reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.11). Methode Electronics had a negative net margin of 6.58% and a negative return on equity of 8.04%. The company had revenue of $233.70 million for the quarter, compared to analyst estimates of $219.44 million. On average, equities research analysts expect that Methode Electronics, Inc. will post -0.89 EPS for the current fiscal year.

Methode Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 17th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, April 17th. Methode Electronics’s payout ratio is presently -10.99%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MEI. EverSource Wealth Advisors LLC lifted its position in shares of Methode Electronics by 1,027.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 2,815 shares during the period. State of Wyoming acquired a new position in Methode Electronics during the first quarter worth $93,000. Mackenzie Financial Corp acquired a new position in Methode Electronics during the third quarter worth $103,000. XTX Topco Ltd acquired a new position in Methode Electronics during the second quarter worth $107,000. Finally, Inscription Capital LLC acquired a new position in Methode Electronics during the fourth quarter worth $112,000. Institutional investors and hedge funds own 95.49% of the company’s stock.

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.