Methode Electronics (NYSE:MEI) Stock Breaks Below Two Hundred Day Moving Average – Should You Sell?

Shares of Methode Electronics, Inc. (NYSE:MEI) passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $11.89 and traded as low as $11.38. Methode Electronics shares last traded at $11.82, with a volume of 485,031 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently commented on MEI. Zacks Research raised shares of Methode Electronics from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 26th. Craig Hallum assumed coverage on Methode Electronics in a research report on Tuesday, August 25th. They set a “buy” rating and a $30.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Methode Electronics in a research report on Thursday, October 15th. Finally, Wall Street Zen downgraded Methode Electronics from a “buy” rating to a “hold” rating in a report on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.00.

Methode Electronics Price Performance

The company has a market cap of $421.32 million, a PE ratio of -11.37 and a beta of 1.60. The company has a quick ratio of 1.65, a current ratio of 2.41 and a debt-to-equity ratio of 0.47. The firm has a 50 day simple moving average of $13.90 and a 200-day simple moving average of $11.89.

Methode Electronics (NYSE:MEI) last released its quarterly earnings results on Wednesday, September 2nd. The electronics maker reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.05. Methode Electronics had a negative net margin of 3.52% and a negative return on equity of 5.63%. The business had revenue of $265.40 million during the quarter, compared to analyst estimates of $238.31 million. As a group, research analysts predict that Methode Electronics, Inc. will post -0.81 earnings per share for the current fiscal year.

Methode Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Friday, October 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, October 16th. Methode Electronics’s payout ratio is -19.23%.

Institutional Investors Weigh In On Methode Electronics

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in Methode Electronics in the second quarter worth $65,727,000. AIGH Capital Management LLC acquired a new position in shares of Methode Electronics during the second quarter worth $31,839,000. Empowered Funds LLC acquired a new position in shares of Methode Electronics during the second quarter worth $11,882,000. Bank of New York Mellon Corp acquired a new position in shares of Methode Electronics during the second quarter worth $5,233,000. Finally, Deutsche Bank AG purchased a new stake in shares of Methode Electronics during the 2nd quarter valued at $4,982,000. 95.49% of the stock is currently owned by institutional investors and hedge funds.

Methode Electronics Company Profile

Methode Electronics designs and manufactures engineered components and subsystems for automotive, industrial and other markets. Its products include electronic controls, sensors, switches, lighting, power distribution systems and custom electrical assemblies. In the automotive market, the company supplies products used in vehicle interiors and exteriors, including lighting, control interfaces and electronic systems. Its industrial offerings include power products, interface panels, wiring and other electrical solutions for equipment and commercial vehicles.