Midwich Group (LON:MIDW) Shares Pass Below 50 Day Moving Average of $337.54

Shares of Midwich Group plc (LON:MIDW) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 337.54 ($4.46) and traded as low as GBX 322 ($4.25). Midwich Group shares last traded at GBX 324.59 ($4.29), with a volume of 110,362 shares traded.

Analysts Set New Price Targets

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 620 ($8.19) price target on shares of Midwich Group in a research report on Tuesday, September 3rd.

Midwich Group Price Performance

The firm has a market capitalization of £327.39 million, a PE ratio of 1,454.55 and a beta of 0.66. The company has a debt-to-equity ratio of 96.77, a quick ratio of 0.78 and a current ratio of 1.44. The business’s 50 day moving average is GBX 336.54 and its two-hundred day moving average is GBX 376.81.

Midwich Group Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Friday, October 18th. Stockholders of record on Thursday, September 12th will be issued a dividend of GBX 5.50 ($0.07) per share. This represents a dividend yield of 1.7%. The ex-dividend date is Thursday, September 12th. Midwich Group’s dividend payout ratio is currently 7,727.27%.

About Midwich Group

Midwich Group plc, together with its subsidiaries, distributes audio visual (AV) solutions to trade customers in the United Kingdom, Ireland, rest of Europe, the Middle East, Africa, the Asia Pacific, and North America. The company distributes various AV categories, such as displays, projectors, technical and professional video products, audio and digital signage products, and broadcast products, as well as lighting and unified communications products.