Methode Electronics (NYSE:MEI) Stock Price Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Methode Electronics stock recently crossed above its 200-day moving average
• Analyst sentiment is mixed: MarketBeat's consensus rating is Reduce with a consensus target of $8.50, and Weiss Ratings recently reissued a sell.
• Fundamentals remain weak — the company reported a ($0.37) EPS miss and a negative PE (-4.62) despite a revenue beat, but it declared a $0.05 quarterly dividend (about a 2.4% yield) with an ex-dividend date of April 17.

Methode Electronics, Inc. (NYSE:MEI - Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $7.15 and traded as high as $8.46. Methode Electronics shares last traded at $8.4150, with a volume of 518,459 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MEI. Weiss Ratings reissued a "sell (d-)" rating on shares of Methode Electronics in a report on Tuesday. Robert W. Baird set a $8.50 price target on Methode Electronics in a report on Wednesday, January 14th. Two investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Methode Electronics presently has a consensus rating of "Reduce" and a consensus target price of $8.50.

Methode Electronics Price Performance

The company has a current ratio of 2.41, a quick ratio of 1.55 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $298.14 million, a PE ratio of -4.62 and a beta of 1.19. The firm has a 50 day moving average price of $6.87 and a 200 day moving average price of $7.15.

Methode Electronics (NYSE:MEI - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The electronics maker reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.11). The company had revenue of $233.70 million during the quarter, compared to analysts' expectations of $219.44 million. Methode Electronics had a negative return on equity of 8.04% and a negative net margin of 6.58%. Research analysts anticipate that Methode Electronics, Inc. will post -0.89 earnings per share for the current year.

Methode Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 1st. Stockholders of record on Friday, April 17th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Friday, April 17th. Methode Electronics's dividend payout ratio is -10.99%.

Institutional Investors Weigh In On Methode Electronics

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Strs Ohio lifted its stake in Methode Electronics by 10.0% in the fourth quarter. Strs Ohio now owns 26,300 shares of the electronics maker's stock worth $175,000 after purchasing an additional 2,400 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in 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 worth $29,000 after purchasing an additional 2,815 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in Methode Electronics by 21.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 21,781 shares of the electronics maker's stock worth $145,000 after purchasing an additional 3,778 shares during the last quarter. Barclays PLC lifted its stake in Methode Electronics by 4.5% in the fourth quarter. Barclays PLC now owns 90,325 shares of the electronics maker's stock worth $600,000 after purchasing an additional 3,906 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Methode Electronics by 9.3% in the second quarter. Sei Investments Co. now owns 54,040 shares of the electronics maker's stock worth $514,000 after purchasing an additional 4,600 shares during 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.

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