Methode Electronics (NYSE:MEI) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Shares of Methode Electronics, Inc. (NYSE:MEI) crossed 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.

Wall Street Analysts Forecast Growth

MEI has been the subject of a number of research analyst reports. Zacks Research upgraded shares of Methode Electronics to a “hold” rating in a report on Tuesday, December 9th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, January 22nd. Finally, Robert W. Baird set a $8.50 price target on Methode Electronics in a report on Wednesday, January 14th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.25.

Methode Electronics Price Performance

The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.68 and a current ratio of 2.55. The company has a 50-day moving average of $7.16 and a 200-day moving average of $7.15. The stock has a market capitalization of $281.65 million, a price-to-earnings ratio of -4.47 and a beta of 1.07.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, December 3rd. The electronics maker reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.20) by $0.01. Methode Electronics had a negative return on equity of 7.10% and a negative net margin of 6.39%.The company had revenue of $246.90 million during the quarter, compared to the consensus estimate of $237.69 million. As a group, equities research analysts expect that Methode Electronics, Inc. will post -0.4 earnings per share for the current fiscal year.

Methode Electronics Dividend Announcement

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

Institutional Investors Weigh In On Methode Electronics

A number of hedge funds and other institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in shares of Methode Electronics by 1,027.4% in the second quarter. EverSource Wealth Advisors LLC now owns 3,089 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 2,815 shares during the period. Sei Investments Co. boosted its position in shares of Methode Electronics by 9.3% during the second quarter. Sei Investments Co. now owns 54,040 shares of the electronics maker’s stock worth $514,000 after buying an additional 4,600 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Methode Electronics by 25.9% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,072 shares of the electronics maker’s stock worth $201,000 after buying an additional 5,570 shares in the last quarter. Quantbot Technologies LP increased its position in Methode Electronics by 92.7% in the 3rd quarter. Quantbot Technologies LP now owns 17,331 shares of the electronics maker’s stock valued at $131,000 after acquiring an additional 8,336 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Methode Electronics by 0.7% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,266,980 shares of the electronics maker’s stock valued at $9,566,000 after acquiring an additional 8,869 shares in the last quarter. 95.49% of the stock is currently owned by hedge funds and other institutional investors.

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.