Midwich Group (LON:MIDW) Shares Cross Below Fifty Day Moving Average - Here's What Happened

Shares of Midwich Group plc (LON:MIDW - Get Free Report) passed below its fifty day moving average during trading on Thursday . The stock has a fifty day moving average of GBX 324.23 ($4.23) and traded as low as GBX 317.30 ($4.14). Midwich Group shares last traded at GBX 320.85 ($4.19), with a volume of 150,280 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 620 ($8.10) target price on shares of Midwich Group in a research report on Tuesday, September 3rd.

Midwich Group Price Performance

The company has a debt-to-equity ratio of 96.77, a current ratio of 1.44 and a quick ratio of 0.78. The company has a 50-day simple moving average of GBX 324.31 and a two-hundred day simple moving average of GBX 365.83. The stock has a market capitalization of £327.42 million, a price-to-earnings ratio of 1,454.36 and a beta of 0.66.

Midwich Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, October 18th. Shareholders of record on Thursday, September 12th will be given a GBX 5.50 ($0.07) dividend. This represents a yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 12th. Midwich Group's dividend payout ratio is presently 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.